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Updated: 9 min 48 sec ago
A strong jobs report knocked U.S. government bond and stock prices down as investors bet that the Federal Reserve could raise interest rates later this year.
U.S. stocks switched between trading flat and slightly lower Friday after the monthly jobs report's headline number topped expectations.
U.S. equity markets were choppy in mid-afternoon action Friday after Labor Department data showed job growth rose more than expected in May and wages picked up, a sign of momentum for the American economy.
Utilities stocks are trading broadly lower early Friday, as a spike up in Treasury yields following a strong May jobs report has taken some of the shine off sector known for its relatively-high dividend yields.
Financial stocks traded broadly higher Friday, after a stronger-than-expected May jobs report fueled hopes that the Federal Reserve will raise interest rates sooner rather than later.
The 12-month price target for Chipotle Mexican Grill Inc.'s stock was slashed to $620 on Friday, which is just 1.3% above current levels, from $665 at Wedbush Securities, which cited concerns that same-store sales may disappoint.
The U.S. added 280,000 jobs in May, a solid number and well above expectations, but still not enough to offer much clarity to Federal Reserve policy makers mulling the timing of an interest rate hike.
The average wage of American workers rose 0.3% in May to $24.96 a hour, pushing the increase over the past year up to its highest level since mid-2013.
The U.S. economy generated 280,000 new jobs in May - the biggest gain since the end of 2014 - as most industries added workers after a slowdown in hiring earlier in the year.
Greece delayed repayment of an IMF loan on Friday and a deputy minister said the government might call snap elections if its creditors do not soften their terms, an option that an opinion poll showed four of ten Greeks support.
The Organization of the Petroleum Export Countries said Friday it will maintain its oil output ceiling, holding on to its plan to tolerate lower global oil prices in the interest of defending market share.
The Organization of the Petroleum Exporting Countries began its meeting on Friday as questions swirled about whether it will continue its current oil-production levels or make a move to increase them.
European cable provider Liberty Global and British telecommunications giant Vodafone are in the “early” stages of talks to exchange assets, sources close to the situation tell FOX Business.
Cardinal Health Inc. said Friday it has agreed to buy privately-held generics company The Harvard Drug Group in a deal valued at $1.115 billion.
Shanghai-based solar products maker JA Solar Holdings Co. said on Friday it received a "going private" proposal from Chairman and Chief Executive Baofang Jin and Jinglong Group Co. that would value the company at about $489.1 million.
Dow Chemical Co. has defended its Chief Executive Officer Andrew Liveris after a report claimed he was being investigated by the Securities and Exchange Commission over allegations of using company funds for personal benefit.
Here are the latest trading levels for Asia's major stock markets: Tokyo (Nikkei Average ) down 0.4% ; Hong Kong (Hang Seng Index ) down 0.8% ; Shanghai (Shanghai Composite Index ) down 0.1% (at break) ; Sydney (S&P/ASX 200 ) down 0.2% ; Seoul (Kospi ) down 0.3% ; Mumbai (Sensex ) down 0.2% ; Taipei (Taiex ) down 0.4% Copyright © 2015 MarketWatch, Inc.
Australian stocks rolled back and forth between gains and losses early Friday, with the S&P/ASX 200 flat an hour into the session, as miners, financials and other key sectors traded mixed.
Japanese stocks downshifted in early Friday trades, with a solid drop for Wall Street, a flat yen and general caution ahead of the May U.S. jobs report due later in the day all translated into a 0.4% loss for the Nikkei Average and a 0.6% pullback for the Topix .