October payrolls topped estimates, despite the GM strike
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| | | 11/01/2019 | |
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| Dow Adds 301 Points on Jobs Data, Trade Progress | | By Lillian Currens | | The Dow erased yesterday's losses, tacking on over 300 points on better-than-expected employment data for October, despite the General Motors (GM) strike. In addition, investors cheered reassuring news that the U.S. and China have reached a consensus in principle on trade, with the Chinese Ministry of Commerce touting "serious and constructive" talks between high-level officials. Likewise, one White House official said the two sides have "made progress" and are "resolving outstanding issues." A post-earnings surge from Exxon Mobil (XOM) and fresh highs for Apple (AAPL) helped boost the Dow, too, sweeping a wider-than-expected contraction in the Institute for Supply Management's (ISM) manufacturing purchasing managers' index (PMI) under the rug. The Nasdaq and S&P were the real stars of the day, though, with both indexes soaring to all-time highs. Continue reading for more on today's market, including: - 2 surging stocks options players swarmed today.
- Why analysts like this pharma stock before earnings.
- Plus, Sysco gears up for earnings; options bears pummel ANET stock; and Novo Nordisk lifts its full-year forecast
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