The main US stock indexes rose strongly, which was supported by positive data on the labor market in the United States.
So, employment growth in the US accelerated in February, recording the largest increase in more than a year and a half, but a slowdown in wages indicates a gradual increase in inflation this year. Last month, the number of jobs in the non-agricultural sector increased by 313,000, which was contributed by the largest increase in employment in construction since 2007, the Ministry of Labor said. The increase in employment last month was the largest since July 2016 and was well above the approximately 100,000 jobs a month that the economy should create in order to keep pace with the growing working-age population. Average hourly earnings rose four cents, or 0.1%, to $ 26.75 in February, slowing from 0.3% in January. This reduced the annual increase in the average hourly income to 2.6% from 2.8% in January. The unemployment rate was unchanged at a 17-year low of 4.1% in February, as more people entered the labor force. The average work week recovered to 34.5 hours after a decline to 34.4 hours in January.
At the same time, commodity stocks in wholesale warehouses in the US in January grew slightly more than originally estimated, indicating that investment in inventories is likely to contribute to economic growth in the first quarter after the previous period it was difficult. The Commerce Department reported that wholesale stocks rose 0.8%, which is the biggest increase in five months, instead of an increase of 0.7%, reported last month. Wholesale inventories increased by 0.7% in December.
Almost all components of the DOW index finished trading in positive territory (29 out of 30). The leader of growth was shares of Chevron Corporation (CVX, + 3.48%). Outsider were the shares of Verizon Communications Inc. (VZ, -0.22%).
Almost all sectors of S & P recorded a rise. The sector of industrial goods grew most (+ 1.8%). Decrease showed only the sector of conglomerates (-1.6%).
Dow + 1.77% 25.335.74 +440.53
Nasdaq + 1.79% 7.560.81 +132.86
S & P + 1.74% 2.786.57 +47.60
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