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S&P posts 7-day winning streak

Credit: Reuters Studio
Published on April 5, 2019 - Duration: 01:22s

S&P posts 7-day winning streak

U.S. stocks rose on Friday, boosted by better-than-expected job growth in March, which eased concerns of an economic slowdown.

Fred Katayama reports.

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S&P posts 7-day winning streak

A solid jobs report drove the S&P 500 higher for a seventh straight session.

The Dow inched up; the S&P and Nasdaq gained roughly half percent.

The 196,000 increase in non-farm payrolls in March, 3.8 percent jobless rate and 0.1 percent increase in wages eased concerns of an economic slowdown.

Direxion Investments managing director, Sylvia Jablonski: SOUNDBITE: DIREXION INVESTMENTS MANAGING DIRECTOR, SYLVIA JABLONSKI (ENGLISH) SAYING: "It's rather muted but it's still another positive day up so I would say we're on trend for what is continuing to be a great momentum off of first quarter this year." Viacom shares rose.

RBC upgraded the media giant to "outperform" from "sector perform", saying Viacom's deal with DirecTV paves the way towards merger talks with CBS.

Intel shares slipped.

Wells Fargo downgraded the chipmaker's stock to "market perform" from "outperform", pointing out weak demand for semiconductors.

After the markets closed, Boeing announced it'll cut the production rate of the 737 by roughly 20 percent.

That's the narrowbody jet that airlines have grounded in the wake of two deadly crashes.

Boeing shares slid further in after-hours trading.

Next week, investors focus on the I-word: inflation.

Wall Street expects consumer prices in March to have risen 0.3 percent on the month and 1.8 percent on the year.

That number comes out on Wednesday.

Producer prices come out Thursday.

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