Stocks end 5-day losing streak on job market data
“If today’s number was a good number, that means when we see the job report on Oct. 4, that number ought to be pretty strong,” said Phil Orlando, chief equity market strategist at Federated Investors in New York.
The Dow Jones industrial average was up 55.04 points, or 0.36 percent, at 15,328.30. The Standard & Poor’s 500 Index was up 5.90 points, or 0.35 percent, at 1,698.67. The Nasdaq Composite Index was up 26.33 points, or 0.70 percent, at 3,787.43.
In Washington, House Republicans refused to give in to President Barack Obama’s demands for straightforward bills to keep the government running beyond Sept. 30 and to increase borrowing authority to avoid a historic default.
Consumer discretionary shares gave the biggest boost to the S&P 500, which was up for the first session since the Sept. 18 rally on the Fed’s decision to keep its stimulus program unchanged for now. The S&P consumer discretionary index rose 0.9 percent.
After the bell, shares of Nike Inc jumped 4.1 percent to $73.20 following the release of its results.
During regular trading, shares of J.C. Penney Co Inc gained 2.9 percent to $10.24.
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