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- Before the bell: Jobs data may lift Wall Street
Before the bell: Jobs data may lift Wall Street
U.S. stocks were set to extend gains Thursday as investors reacted to a pair of jobs reports that showed stronger-than-expected results.
Economy: Before the bell the U.S. government's weekly report on initial unemployment claims showed that 418,000 people filed for unemployment in the week ended July 2. Economists had expected a total of 425,000 jobless claims last week.
Separately, a report from payroll services firm ADP showed that employers in the private sector added 157,000 workers in June, far exceeding expectations. The ADP was expected to show that employers in the private sector added 60,000 workers in June.
Economists are expecting the Payrolls report to show 120,000 jobs added to payrolls.
World markets: European stocks rose in midday trading. Britain's FTSE 100 and the DAX in Germany each surged 0.8% and France's CAC 40 gained 0.5%.
Asian markets ended mostly lower. The Shanghai Composite fell by 0.6%, the Hang Seng in Hong Kong ended flat and Japan's Nikkei ticked down by 0.1%.
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