Wall Street climbs on job expectations
NEW YORK: US stocks rose on Wednesday, as a private employment report did little to shake up expectations for Friday's payrolls data while investors positioned themselves for the quarter's end. The US labour market showed signs of further recovery in March, as private- sector employers added jobs and planned layoffs fell, according to data released on Wednesday.
While the report may not hold predictive value for the government's broader non-farm payrolls report due on Friday, the reading was largely in line with expectations and failed to alarm investors. "At 200,000 or so, that number is not enough to excite the market one way or the other. If it indeed happens to be the number for payrolls on Friday," said John Canally, and economist for LPL Financial in Boston.
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