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U.S. markets climb slow but steady

Wednesday, Jul 02, 2014 - 02:07

Private sector job creation leads U.S. markets to new records; JPM down on Jamie Dimon health announcement; GoPro takes its first tumble; FTC sues T-Mobile; Goldman a ''boys'' club? Lily Jamali reports.

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U.S. markets taking it slow and steady continuing to climb through record territory. The Dow up, though still shy of the 17,000 point milestone. The S&P ended Wednesday higher; the Nasdaq lower. Stocks were led by private sector job creation, which was much higher than expected. Payroll processor ADP reported 281,000 new jobs, the strongest monthly gain in a year and a half. Jeff Saut, chief Investment Strategist at Raymond James says in this market, growth is a key driver. SOUNDBITE: JEFF SAUT, CHIEF INVESTMENT STRATEGIST, RAYMOND JAMES (ENGLISH) SAYING: "Equity markets don't care about the absolutes of good or bad. All the equity markets care about is are things getting better or worse and things are getting better." Oil prices fell to their lowest level in almost three weeks as rebels in Libya agreed to reopen two oil ports they've kept shut for the past year. In company news, Chairman and CEO of JP Morgan Chase Jamie Dimon, announcing he has throat cancer, which he says was caught at an early stage and is curable. Dimon plans to stay actively involved in the nation's largest bank even as he undergoes therapy. Shares ended the day lower. GoPro shares taking a tumble, falling for the first time since the camera-maker went public last week. The shares had doubled in the company's first four days of trading. Goldman shares not budging after two former female employees asked a federal judge in New York to expand their gender discrimination suit to a class action. They describe the investment bank as a boys club where women were sexualized or ignored. In other legal news, the Federal Trade Commission is suing T-Mobile, accusing them of adding millions of dollars of unauthorized charges to customers' bills. Outspoken T-Mobile CEO John Legere saying he's "disappointed" with the action. Shares were slightly lower. And Lindsey Lohan is suing Take Two Interactive, maker of the Grand Theft Auto games for using her likeness without her permission. European markets ended the day mixed.

U.S. markets climb slow but steady

Wednesday, Jul 02, 2014 - 02:07

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