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 »

Investing 201 »

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

The better bond funds The better bond funds

Wed, Aug 07, 2013 - (2:40)

Best bargain in 40 years? European stocks Best bargain in 40 years? European stocks

Thu, Aug 01, 2013 - (2:24)

Invest like an activist Invest like an activist

Fri, Jul 26, 2013 - (2:49)

Money Clip »

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

“Stalking” your dream home - Money Clip “Stalking” your dream home - Money Clip

Wed, Mar 27, 2013 - (2:50)

3 hidden tax deductions - Money Clip 3 hidden tax deductions - Money Clip

Thu, Mar 21, 2013 - (1:33)

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 »

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

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)