Stocks, treasurys rise ahead of release of December jobs report
January 6th, 2011
09:49 PM ET

Stocks, treasurys rise ahead of release of December jobs report

A look at the day's business news headlines:

Stocks stall ahead of December jobs report

U.S. stocks ended mixed Thursday afternoon, as the dollar strengthened and investors mulled a rise in jobless claims and softer-than-expected same-store retail sales ahead of the December jobs report due Friday.

The Dow Jones industrial average finished down 26 points, or 0.2%, with shares of Verizon, Travelers Companies, and AT&T leading the decline. Meanwhile Microsoft, Boeing, and Hewlett Packard posted the biggest gains.

The S&P 500 fell 3 points, or 0.2%, as weak retail sales weighed on the broad index. Gap and Target were among the biggest losers.

The tech-heavy Nasdaq gained 8 points, or 0.3%, led by a 13.8% jump in shares of chipmaker Nvidia.

Stocks have trended upward this week, as positive economic reports have buoyed investor confidence about the recovery. Wednesday's strong report on private sector payrolls from ADP helped push the Dow to a fresh two-year high for the third day in a row.

Treasuries rise after initial claims disappoint

Investors flocked to safe-haven Treasury bonds, after a report on jobless claims came in weaker than expected.

The government's report on weekly unemployment claims slightly toned down investors' optimism about the jobs picture, driving stocks down and bonds up Thursday.

The price on the benchmark 10-year note rose Thursday, sending its yield down to 3.42%, after closing at 3.47% on Wednesday. Prices and yields move in opposite directions.

Yields for the 30-year Treasury bond dropped to 4.52%, while the 5-year note slid to 2.08% and the 2-year note fell to 0.69%.

Bond traders are looking ahead to Friday's jobs report, which is expected to show employers added 150,000 people to their payrolls in December - a major improvement over the 39,000 added the month before.

- CNNMoney.com reporters Annalyn Censky, Blake Ellis and Hibah Yousuf contributed to this report.

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Filed under: Economy • Jobs
soundoff (9 Responses)
  1. Cesar

    Buy low, sell high. Make a million bucks-no charge, free advice.

    January 6, 2011 at 10:31 pm | Report abuse |
  2. banasy

    Thanks, Cesar. Good, free advice! Do you have a million bucks I could..."borrow"? 🙂

    January 6, 2011 at 11:06 pm | Report abuse |
  3. Julian Assange

    The reality is that we getting more and more involved Afganistan. We are attempting to gradually take over the county for our resouces benefit, and to attempt to make afganistans the carbon-copy of Christian American white women. We are already talking about permanent bases being established. We are becoming an Empire. Look out world, we are coming to save you from yourselves. As long as you do what we tell you to, we will get along fine. less

    January 7, 2011 at 1:29 am | Report abuse |
  4. sburg

    that's all fine the bottom will fall out of the American dollar and we'll all be poor. happened to every empire in history why not America. cause everybody here thinks it can't happen lol. happened before will happen again. China will take over where we leave off. our money will become useless anywhere else before long. why do you think everything is goin up? its the debt our country owes. its ok tho every dog has his day. start investing in foreign currency. everybody else wants to quit using our dollar as the world standard already.

    January 7, 2011 at 1:58 am | Report abuse |
  5. sburg

    keep on printing more money that's Americas fix lol. well that leads to inflation and everything here raising in prices. so how do u fix this? we can't were in a hole to deep to climb out of now. see everybody in the camps when martial law is declared from the riots that will happen when food prices reach a point our middle class can't afford. wait they just raised the national income for the middle class didn't they? what's the feds hiding? how about all the people who can't find a job but don't get unemployment benefits because the government lies about unemployment rates. 13 percent of our country depends on food stamps now. what's that spell economic collapse in the U.S..

    January 7, 2011 at 2:07 am | Report abuse |
  6. sburg

    America needs to quit being so concerned with other countries and fix its own problems. that is the solution. u probably think our government is concerned but they aren't. you'll all see how it unfolds.

    January 7, 2011 at 3:33 am | Report abuse |
  7. bambam

    Stop it ur scaren me

    January 7, 2011 at 6:00 am | Report abuse |
  8. net

    for real for real!!!

    January 7, 2011 at 9:25 am | Report abuse |
  9. Cesar

    @banasy: Yes, I can make that loan, only problem is I'm a million bucks short.

    January 7, 2011 at 7:06 pm | Report abuse |