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US Stocks Rise on Employment Data      08/05 09:29

   Stocks rose in morning trading on Wall Street Thursday as investors reviewed 
encouraging jobs market data and a strong batch of corporate earnings reports.

   NEW YORK (AP) -- Stocks rose in morning trading on Wall Street Thursday as 
investors reviewed encouraging jobs market data and a strong batch of corporate 
earnings reports.

   The S&P 500 index rose 0.4% as of 10:06 a.m. Eastern. The Dow Jones 
Industrial Average rose 178 points, or 0.5%, to 34,975 and the Nasdaq rose 0.4%.

   The gains were broad in what has been a choppy week of trading. More than 
75% of companies in the benchmark S&P 500 rose, with banks and a mix of 
consumer-facing companies leading the way. Technology and industrial companies 
also notched solid gains.

   Bond yields rose to to 1.21% from 1.18% late Wednesday.

   Wall Street got another glimpse of the recovering jobs market after the 
Labor Department reported that unemployment claims -- a proxy for layoffs -- 
dropped last week by 14,000. The generally encouraging report follows a weak 
report from payroll processor ADP on Wednesday showing that the private sector 
added jobs at a much slower pace than expected in July.

   The labor market has lagged other areas of the economy during the recovery 
from the virus pandemic. Investors will get a more comprehensive picture on 
Friday when the Labor Department releases its July jobs report.

   Investors are also weighing another batch of earnings reports. Underwear 
maker Hanesbrands jumped 9.1% after reporting solid second-quarter financial 
results. COVID-19 vaccine maker Moderna rose 2.4% after also reporting strong 
results.

   Several companies that benefitted from the shift in consumer habits during 
the height of the pandemic slipped after reporting disappointing results or 
forecasts. Online crafts marketplace Etsy fell 9.2% after giving investors a 
weak sales forecast as more people return to shopping in person and going out 
more for activities. Video-streaming service Roku shed 4.5% after active 
accounts and streaming hours fell short of analysts' forecasts during the 
second quarter.

   Investors will watch Weber, the pioneering maker of grills and other outdoor 
cooking equipment, which makes its stock market debut later today.

 
 
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