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Market Update

Payroll Gains Lift Indexes by 1% in New York, European Markets Surge

Author: Nichole Harper
Last Update: 1:07 PM ET May 08 2015

1:05 PM – Stocks on Wall Street jumped more than 1% after April jobless rate declined to 5.4% and net monthly new jobs increased by 223,000 after edging up only 85,000 in March. Indexes in Europe jumped also after Prime Minister David Cameron led Conservative Party won a slim but outright majority in the U.K. Parliamentary election.

Market indexes on Wall Street soared more than 1% after April jobs report showed healthy net gains and jobless rate declined to 5.4%.

Indexes across Europe also surged nearly 2% after the U.K. parliamentary election handed a slim but a clear majority to David Cameron led Conservative Party easing worries of a coalition government.

U.S. non-farm payroll employment in April rose 223,000 and the unemployment rate was declined to 5.4% from 5.5% in March, the Department of Labor said.

March net job gains were revised down to 85,000 from 126,000 and 266,000 jobs in February.

March wholesale sales fell 0.2% to $441.6 billion from the revised February sales and declined 4% from a year ago month.

Inventories in March rose 0.1% to $574.5 billion from the revised February data and soared 5.1% from a year ago, the Department of Commerce reported.

On Wall Street, Tollbooth Strategy Index climbed 1.4% or 143.77 to 10,771.94.

S&P 500 index jumped 27.54 or 1.3% to 2,115.52 and the Nasdaq Composite Index increased 62.04 or 1.3% to 5,007.19.

Crude oil in New York gained 63 cents to $59.57 a barrel and gold advanced $7 to $1,189.20 an ounce.

U.S. Movers

AOL, Inc (AOL) surged 11.3% or $4.44 to $43.83 after the online consumer products and services said total revenues in the first-quarter ending in March climbed 7.2% to $625.1 million form a year ago period.

Net income in the quarter plunged 24.7% to $7 million or 9 cents a diluted share compared to $9.3 million or 11 cents from the same quarter last year.

McDonald''s Corporation (MCD) gained 1.9% or $1.84 to $98.62 after the fast food restaurant network operator said domestic comparable sales in April dropped 2.3% but comparable sales in Europe rose 1% and comparable sales in Asia, Pacific, Middle East and Africa declined 3.8%.

McDonald''s reported global comparable sales in the month decreased 0.6% and system-wide sales plunged 8.8%.

European Markets

Market indexes across Europe advanced and indexes in London soared after conservative party won a slim majority in parliamentary election defying the predictions of hung election.

The seasonally adjusted U.K. trade deficit in goods and services narrowed to £2.8 billion in March from £3.3 billion in February, the Office of the National Statistics said.

In London trading, FTSE 100 index climbed 2.1% or 144.68 to 7,031.63 and in Frankfurt the DAX index soared 2.3% or 262.23 to 11,671.76.

In Paris, CAC 40 index jumped 1.6% or 78.24 to 5,045.46.

BG Group Plc increased 1.1% to 1,187 pence after the U.K.-based natural gas and oil producer reported revenues in the first-quarter ending in March plunged 21% to $3.99 billion from $5.06 billion in a year ago period.

Net income in the quarter tumbled 51% from a year ago to $565 million compared to $1.15 billion and earnings per share dropped to 16.6 cents from 33.8 cents.

Syngenta AG surged 22.9% to 409.30 Swiss francs after the Switzerland-based agriculture products maker rejected a $45 billion takeover offer or 449 franc per share from the U.S.-based Monsanto Company as the “unsolicited proposal.”

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc