Stocks soar ...Oil prices tick higher... Great job numbers
NEW YORK (AP) — Global stocks have soared and reversed the big losses they suffered just a day earlier. The Dow Jones Industrial Average rallied 746 points in the latest twist in a wild three months for markets. The Dow rose 3.3 percent to close at 23,433. The S&P 500 index climbed 84 points, or 3.4 percent, to 2,531, more than wiping out Thursday’s loss. And the Nasdaq composite jumped 275 points, or 4.3 percent, to end the day at 6,738.
NEW YORK (AP) — Oil prices are up today. Benchmark U.S. crude added 1.8 percent to $47.96 a barrel in New York. At the same time, Brent crude, used to price international oils, was up 2 percent to $57.06 per barrel in London. In other futures trading, wholesale gasoline dipped 0.1 percent to $1.35 a gallon and heating oil added 1.6 percent to $1.77 a gallon. Also, natural gas rose 3.4 percent to $3.04 per 1,000 cubic feet.
WASHINGTON (AP) — Employers went on a hiring spree in December, adding a surprising 312,000 jobs and providing a dose of reassurance about the U.S. economy after a turbulent few months on Wall Street. The job gains reported Friday by the Labor Department came despite headwinds. The jobless rate rose slightly to 3.9 percent last month, And average hourly pay improved 3.2 percent from a year ago.
LOS ANGELES (AP) — The owner of The Weather Channel denies any impropriety with use of location data collected from users of its mobile app. IBM has issued a statement in response to a lawsuit by the Los Angeles city attorney claiming app users are misled to think the data is only used for personalized weather information but it is actually sold to third parties. IBM says there has always been transparency about use of location data and it will be vigorously defended.
LAS VEGAS (AP) — A Nevada judge says documents about allegations of sexual misconduct against former casino mogul Steve Wynn will stay secret, at least temporarily, despite Massachusetts Gaming Commission efforts to make them public. the ruling could stall a decision about the suitability of the company to run a $2 billion casino hotel near Boston. Wynn denies wrongdoing. He sued in November to keep the documents secret.