Reuters - Video

EDITION: U.S. | U.K. | IN

Top News

Strong jobs data eclipsed by Ukraine fighting

Friday, May 02, 2014 - 02:30

May 02 - Summary: The positive impact on Wall Street from stronger-than-expected job growth and a plunge in the jobless rate was short lived as bloodshed in Ukraine adds to fear Russia may invade Ukraine. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

It's the first Friday of the month and that means one thing - Wall Street is fixated on jobs. Employers added to payrolls in April at the fastest pace in more than two years, with hiring across the board, and figures for February and March upwardly revised as well. Unemployment lines shrank to a 5-1/2 year low of 6.3 percent. But - there always seems to be a "but" lately - unemployment shrank because more than 800,000 people left the workforce last month. Chris Geczy of the Wharton School/University of Pennsylvania: SOUNDBITE: CHRIS GECZY, FINANCE PROFESSOR, WHARTON SCHOOL OF BUSINESS, UNIVERSITY OF PENNSYLVANIA (ENGLISH) SAYING: "What you're finding is that many are getting discouraged and so the broader numbers -unemployment numbers -are improving and in fact are also at all-time lows but the mix is changing, those who are discouraged, those who are pulling themselves out or those who would like a full-time job but can only get a part time job are fairly stable." That's why some economists say Friday's numbers won't significantly alter Federal Reserve policy. The stock market largely took the numbers in stride with the Dow, the Nasdaq, and the S&P 500 barely reacting. For the week, blue chips rallied under one percent and the Nasdaq was up 1.2 percent. Yields on the 10-year note fell to a three-month low but that had more to do with news concerns about Ukraine. Clashes broke out in several cities between pro-Russian activists and pro-Ukrainian supporters. The violence is especially intense in eastern Ukraine, in one of the deadliest outbreaks of violence since February. And fears are growing of a Russian invasion after Moscow described one incident involving Ukranian forces as a "punitive operation." Meanwhile in Washington, President Barak Obama and German Chancellor Angela Merkel emerged from talks warning Russia will face more sanctions if it interferes with Ukraine elections near the end of the month. An uptick in geopolitical jitters sent investors looking for a place to hide - gold rallied in its biggest gain in two months. In company news, Pfizer upped its bid to $106 billion but AstraZeneca says that offer still "substantially undervalues" the British drugmaker and rejected the higher proposal. Shares of Pfizer - down more than a percent, while AstraZeneca moved lower in London. Stocks in London nudged higher on Friday but Germany and France were down.

Strong jobs data eclipsed by Ukraine fighting

Friday, May 02, 2014 - 02:30

Most Popular »

Money »

Finding meaning in the S&P 500 2000 mark Finding meaning in the S&P 500 2000 mark

Mon, Aug 25, 2014 - (2:35)

S&P falls back from record high S&P falls back from record high

Fri, Aug 22, 2014 - (1:35)

S&P 500 closes at new high S&P 500 closes at new high

Thu, Aug 21, 2014 - (1:24)

S&P 500 just shy of record S&P 500 just shy of record

Wed, Aug 20, 2014 - (2:23)

Apple hits $100 a share Apple hits $100 a share

Tue, Aug 19, 2014 - (2:06)

Nasdaq closes at 14-year high Nasdaq closes at 14-year high

Mon, Aug 18, 2014 - (2:23)

Putin puts Wall Street in buying mood Putin puts Wall Street in buying mood

Thu, Aug 14, 2014 - (2:10)

We've become a promotional culture-RetailMeNot's Bodge We've become a promotional...

Thu, Aug 14, 2014 - (4:39)

Dow back to positive territory for year Dow back to positive territory for year

Wed, Aug 13, 2014 - (2:18)

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

Wed, Jul 16, 2014 - (9:25)

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

Wed, Jun 25, 2014 - (11:35)

The Exchange: The value of money The Exchange: The value of money

Mon, Jun 02, 2014 - (9:53)

The Exchange: China’s Second Continent The Exchange: China’s Second Continent

Tue, May 27, 2014 - (9:35)

The Exchange: A master of business arts The Exchange: A master of business arts

Thu, May 08, 2014 - (8:24)

The Exchange: America's bankrupt cities The Exchange: America's bankrupt cities

Mon, May 05, 2014 - (8:52)

The Exchange: Let the rocking commence The Exchange: Let the rocking commence

Tue, Apr 08, 2014 - (8:13)

The Exchange: The Moneyball fallacies The Exchange: The Moneyball fallacies

Mon, Mar 24, 2014 - (9:54)

Is doing good a good business? Is doing good a good business?

Mon, Mar 17, 2014 - (7:38)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Wed, Jul 02, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, Jun 06, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, May 30, 2014 - (1:37)