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Wall Street gets Fed reality check
Wall Street gets Fed reality check - 01:51
Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41
FACTBOX: Titanic the movie sails again
FACTBOX: Titanic the movie sails again - 02:20
Trading at Noon: Wall St. down on lost hope for stimulus
Trading at Noon: Wall St. down on lost hope for stimulus - 02:48
Draghi holds rates, offers caution
Draghi holds rates, offers caution - 01:50
Breakingviews: Gun bubble redux
Breakingviews: Gun bubble redux - 02:51
Yahoo cuts 2,000 jobs
Yahoo cuts 2,000 jobs - 01:15
Easter egg panic in eastern Europe
Easter egg panic in eastern Europe - 01:28
Wealth Strategies: Equity rally has 3 years left in cycle
Wealth Strategies: Equity rally has 3 years left in cycle - 06:05
Congressional insider trading ban
Congressional insider trading ban - 01:17
Gas prices no detour for car buyers
Gas prices no detour for car buyers - 02:13
Demand for fuel-efficient cars will outlast spike in gas prices
Demand for fuel-efficient cars will outlast spike in gas prices - 02:36
Most engines of growth are in emerging markets : Nissan CEO
Most engines of growth are in emerging markets : Nissan CEO - 05:39
U.S. Day Ahead: GAP set to shine with same store sales
U.S. Day Ahead: GAP set to shine with same store sales - 01:59

Tech leads Wall Street higher

Friday, June 02, 2017 - 01:19

U.S. stocks closed at record highs for a second straight day on Friday. As Fred Katayama reports, a rally in tech and industrial stocks offset a tepid jobs report.

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A tepid jobs report didn't keep stocks from edging higher and hitting record highs on Friday. Industrial and tech shares spearheaded the rally. Employers added fewer people to their payrolls in May than economists expected. The modest 138,000 increase could raise concerns about the economy's health but may still be enough for the Fed to raise interest rates this month. That weak payrolls data pushed Treasury yields lower. John Manley of Wells Fargo Funds management SOUNDBITE: JOHN MANLEY, CHIEF EQUITY STRATEGIST, WELLS FARGO FUNDS MANAGEMENT (ENGLISH) SAYING: "The number. It's one number. The number two: It gives the reason to think perhaps the Fed is not going to be quite as aggressive in raising rates as before so there's a little good and a little bad in this. It was a dismal number, but it's not a disaster." RH's high-flying shares taking a big beating. The company that runs furniture retailer, Restoration Hardware, cut its fiscal year forecast for adjusted profit. Canada Goose shares flying higher. The Canadian apparel maker's quarterly loss widened, but that was smaller than analysts expected. Another Canadian company surging: Lululemon. The yoga pants maker's quarterly profit fell but beat expectations, and Lululemon said it would shut down most of its money-losing stores for girls, Ivivva. International investors kept pouring money into European stocks, boosting the region's indexes.

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Tech leads Wall Street higher

Friday, June 02, 2017 - 01:19