Wall St extends gains as July job openings fall

3 weeks ago 41

A Wall Street sign outside the New York Stock Exchange

Aug 29 (Reuters) - Wall Street's main indexes extended gains on Tuesday after weaker-than-expected job openings data signaled easing labor demand, stoking hopes that the Federal Reserve was close to the end of its rate-hike cycle.

The Labor Department's Job Openings and Labor Turnover Survey (JOLTS) showed the number of job openings fell to 8.827 million in July from 9.582 million in June. Analysts were expecting July numbers at 9.465 million.

Another report from the Conference Board showed consumer confidence in the United States fell to 106.1 in August, compared with expectations of 116.

At 10:03 a.m. ET, the Dow Jones Industrial Average (.DJI) was up 102.59 points, or 0.30%, at 34,662.57, the S&P 500 (.SPX) was up 20.82 points, or 0.47%, at 4,454.13, and the Nasdaq Composite (.IXIC) was up 92.70 points, or 0.68%, at 13,797.83.

Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru

Our Standards: The Thomson Reuters Trust Principles.

Read Entire Article