Stocks Post Gains After Jobs Report – CWEB.com

Stocks Post Gains After Jobs Report – CWEB.com

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Stocks cruised to big gains after the February jobs report.

The Dow rose 3.3%, the S&P 500 climbed 3.5% and the Nasdaq jumped 4.2% to a record closing high, with all three benchmark indexes posting their best weekly performance in three weeks.

U.S. Treasury prices fell in reaction to the jobs report, pushing the benchmark 10-year yield 2 bps higher to 2.89% and the two-year yield up by 3 bps to 2.27%.

The uptick in yields helped boost the financial sector (+2.5%) to the top of the day’s leaderboard, followed by industrials (+2.2%), tech (+2%), materials (+1.9%) and energy (+1.9%), as 10 of the 11 S&P sectors closed higher.

U.S. WTI crude oil surged 3.2% to settle at $62.04/bbl.

Crude oil prices rebounded from yesterday’s sharp losses, with U.S. WTI +3.2% to settle at $62.04/bbl and Brent +2.4% to $65.15, amid broad market optimism over strong U.S. jobs data.

ETFS: USO , XLE, OIL, UWT, UCO, VDE, XOP, DWT, ERX, OIH, SCO, BNO, DBO, ERY, DIG, BGR, GUSH, DTO, FENY, USL, IYE, DUG, DRIP, IEO, FIF, DNO, NDP, PXE, OLO, RYE, PXJ, SZO, CRAK, FXN, OLEM, WTIU, DDG, OILK, NANR, OILX, WTID, USOI, USOU, USOD, FTXN, JHME, UBRT, ERYY, DBRT, ERGF, OILD, OILU, USAI

Technology – Top Gainers / Losers

Energy/Materials – Top Gainers / Losers

Restaurant same-store sales fell 0.8% in February.

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