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Market Update

Upbeat Jobs Data Lifts S&P 500 and Indexes by 1%, Europe Struggles


Author: Nichole Harper
ticker.com
Last Update: 12:02 PM ET December 04 2015

[11:55 AM New York City, New York November month net payroll gains increased 211,000 and jobless rate declined to a seven-year low of 5%. Payrolls data for October and September were revised higher by 35,000. European markets were on the defensive. Crude oil eased to one-year low after OPEC held its production quota despite the rising glut.

Stocks on Wall Street traded higher and market indexes jumped more than 1% after the November month jobs report was ahead of expectations.

U.S. non-farm payroll employment in November rose 211,000 and the unemployment rate was unchanged at 5% from October.

Employment increased in construction, professional, technical services and health care.

The number of unemployment were unchanged at 7.9 million, the U.S. Department of Labor said.

Trade deficit in October widened $1.4 billion to $43.9 billion from the revised $42.5 billion in September.

Exports in October dropped $2.7 billion and imports slipped $1.3 billion from September.

The goods deficit grew $2.1 billion and service surplus increased $0.6 billion, the Department of Commerce reported.

On Wall Street, Tollbooth Strategy Index jumped 118.87 or 1.1% to 10,952.42.

S&P 500 index jumped 28.42 or 0.4% to 2,078.6 and the Nasdaq Composite Index increased 72.52 or 1.4% to 5,109.49.

Crude oil in New York declined $1.12 to $39.96 a barrel, a one-year low and gold soared $23.34 to $1,085.45 an ounce.

U.S. Movers

Kroger Co (KR) slid 5 cents to $39.86 after the food and drugs retailer reported total sales in the third-quarter ending in October edged up 0.5% from a year ago to $25.1 billion.

Net income in the quarter surged 18.2% to $428 million or 43 cents per diluted share compared to $362 million or 36 cents per share from the same quarter last year.

Kroger reported LIFO charge in the quarter of about $9 million compared to $85 million in the same period a year ago.

The retailer lifted diluted earnings per share forecast for the year in the range of $2.02 to $2.04 from earlier estimated range between $1.92 and $1.98.

Ulta Salon, Cosmetics & Fragrance, Inc (ULTA) surged 9.2% or $14.94 to $177.95 after the beauty products retailer reported total sales in the third-quarter ending in October advanced 22.1% from a year ago to $910.7 million.

Comparable store sales in the quarter soared 12.8%, the increase was mainly driven by 10.6% growth in transactions and 2.2% growth in average ticket.

Retail comparable sales surged 10.9%, including salon comparable sales growth of 10.9%

Net income in the quarter jumped 20.2% to $71.1 million or $1.11 per diluted share compared to $59.1 million or 91 cents per share from the same quarter last year.

The company lifted net sales forecast for the fourth-quarter in the range of $1.21 billion to $123 billion compared to reported net sales of $1.05 billion in the same period a year ago.

European Markets

In London trading, FTSE 100 index dropped 18.77 or 0.3% to 6,255.96 and in Frankfurt the DAX index slipped 70.21 or 0.7% to 11,717.79.

In Paris, CAC 40 index slumped 30.88 or 0.7% to 4,699.41.

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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