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US Stocks Higher on Job Hopes, Dealmaking; DJIA Up 58 |
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MarketWatch
March 30, 2011
By Brendan Conway
Automatic Data Processing, which compiled the private-sector jobs numbers, said U.S. payrolls increased by 201,000 jobs in March, just below the expected 205,000. Half the gains came from small businesses. The figure was "consistent with a gradual if uneven decline in the employment rate," the ADP report said.
"The employment question has been dangling over the market since we bottomed in 2009," Bernie McDevitt, vice president of institutional trading at Cheevers & Co. He said investors who were cautious ahead of the number were now likelier to buy stocks in case Friday's number proves to be stronger than expected.
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