03
Jun
10

Stocks show small gains

NEWS
Stocks show small gains

Thursday, June 3, 2010

U.S. stocks eked out minor gains on Thursday as investors mulled mixed signals on the U.S. economic recovery ahead of a highly awaited May jobs report.

After opening with modest gains, the major indices slid lower but clawed their way back to close in positive territory.

The Dow Jones Industrial Average rose a scant 4.99 points (0.05 percent) to 10,254.07 at the market close, extending Wednesday’s sharp rally.

The tech-rich Nasdaq index outperformed, up 21.96 points (0.96 percent) at 2,303.03, while the broad-market SP 500 index advanced 4.37 points (0.40 percent) to a provisional 1,102.75.

‘Investors appear cautious ahead of tomorrow’s key jobs report,’ said Scott Marcouiller at Wells Fargo Advisors.

Most analysts expected the Labor Department on Friday would report 500,000 nonfarm jobs were created last month, up from 290,000 in April, and the unemployment rate slipped a notch to 9.8 percent from 9.9 percent.
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