Stocks swing to huge gains after jobs report, trade talks


The Dow Jones Industrial Average surged almost 750 points Friday, more than erasing its losses one day earlier, as a stock market hungry for good news received two morsels: a stronger-than-expected jobs report and comments from the Federal Reserve Chairman that signaled more flexibility in raising interest rates.

US President Donald Trump has been one of the loudest critics of the rising rates, which raise the cost of borrowing and risk dampening economic growth.

At the conference on Friday, Mr Powell said he has not spoken directly to Mr Trump and would not resign if asked. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

By Rich MillerFederal Reserve Chairman Jerome Powell has managed to assuage fickle financial markets by muddying the central bank's monetary message. Microsoft rose 3.1 per cent to $100.41 and Deere gained 3.4 per cent to $148.96.

Fed Unity That view was bolstered by the release just hours before of a blockbuster jobs report for December, and was backed by Powell's two predecessors - Janet Yellen and Ben Bernanke - who appeared together with him in Atlanta in a rare show of public unity.

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But they reject pressure to scrap technology initiatives they see as a path to prosperity and global influence. Some U.S. demands would require structural reform that may be unpalatable for Chinese leaders.

"Nothing's been scheduled, I would say that meetings between presidents and Fed chairs do happen", he told moderator and New York Times reporter Neil Irwin. US stocks have tumbled over the last three months as investors anxious that the economy might slow down dramatically because of a variety of challenges including the trade dispute and rising interest rates.

"Despite this dovish tone, we are skeptical", Schenker said in a note. This response no doubt helped the market to recover on Friday.

Early Friday, the Labor Department said that US employers added the most workers in 10 months as wage gains accelerated and labor-force participation jumped, suggesting the underlying economy is holding up amid falling stock prices.

The dollar strengthened. It rose to 108.51 yen from 107.77 yen.

"This employment report suggests the USA economy still has considerable forward momentum".

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Black is being held without bond in the Harris County jail while Woodruff's bond is set at $100,000 pending further investigation. She was reportedly riding in the auto with her mother and three siblings when the gunman fired several shots into the vehicle.

The world's biggest economy expanded well above potential last year and, along with US consumers, is expected to remain strong through this year.

China's Commerce Ministry said trade talks will be held Monday and Tuesday in Beijing, and investors will again look for signs the world's largest economic powers are resolving their dispute.

Kudlow argued the Federal Reserve is overly concerned about inflation at the risk of stunting economic growth. "Powell is definitely trying to calm the markets".

The Fed's tightening cycle includes both rate hikes and the gradual shedding of its more than $4 trillion (3 trillion pounds) in assets. He also said that the central bank would be willing to "adjust" policy if it disrupted the market or created adverse financial conditions, running against the central bank's statutory goals. Articles appear on for a limited time.

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The $44,000 Model 3 is seen is the most important auto for Tesla, with founder Elon Musk touting it as a more affordable vehicle. Deliveries also grew to 90,700 vehicles, a number that's also 8% more than Q3 2018's all-time-high .