How major USA stock indexes fared Friday

Lloyd Doyle
July 9, 2018

The Dow Jones Industrial Average rose 111.00 points, or 0.46 per cent, at the open to 24,285.82.

Private US firms added 177,000 employees last month, according to payrolls firm ADP, a bit below the pace in May but a level that was still seen as solid.

World stock markets rose and the euro climbed to a three-week peak on Friday as the threat of tariffs by the United States and China on billions of dollars of trade became a reality, though concerns about the conflict escalating capped the appetite for risk.

The S&P 1500 steel index.SPCOMSTEEL has lost 7 percent since March 1, as investors worry that a slowdown in global demand could offset US steelmakers' benefits from tariffs against their foreign competitors.

The gains came even as Washington fired the first shot Friday in a trade conflict with China, imposing tariffs on $34 billion worth of Chinese imports. China responded in kind.

Instead, investors were encouraged by a solid pickup in hiring by US employers last month.

Stocks edged higher in Europe, with the pan-European FTSEurofirst 300 index closing 0.2 percent higher.

The Dow added 185.07 points, or 0.8 percent.

Stocks closed broadly higher Friday, snapping two consecutive weekly declines for the market.

Benchmark 10-year notes last rose 4/32 in price to yield 2.8254 percent, from 2.84 percent late on Thursday.

Investors were pleased to see that USA employers kept up a brisk pace of hiring last month, without having to hike wages that much.

The S&P 500 is up 18.24 points, or 0.7 percent. The Nasdaq composite climbed 33 points, or 0.5 percent, to 7,620.

The Russell 2000 is up 143.97 points, or 9.4 percent.

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