Strong Jobs Data Lifts Markets

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(psd)

Markets rose as a day before the Labor Department releases its official monthly jobs report, two other reports came out that strongly suggesting it will be a pretty good one.

The number of people filing for unemployment benefits for the first time dropped, the government said, falling to 418,000 last week.

And ADP, a large private payroll processor, said companies hired 157,000 employees in June, more than twice what was forecast.

Those two reports are early indicators that tomorrow’s job report will probably be fairly positive.

The Dow Jones was up 96, the S&P up 13 and the Nasdaq gained 38 points.

Jobs News Gives Stocks a Boost [WSJ]