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DJIA Today: Dow Jones Futures Snap 7-Day Skid

DJIA Today: Dow Jones Futures Snap 7-Day Skid

In China, the Shanghai Composite Index was down 0.48%, while Hong Kong's Hang Seng Index was trading 0.29% higher.

The S&P 500 advanced about 0.8 percent, with financials rising almost 2 percent.

In Friday's trading the Nasdaq Composite climbed 1.1 percent to 5,220.97 at 11:27 a.m.in NY, just above its record of 5,218.86, after rising has high as 5,224.77.

The strong jobs report suggests that Britain's vote to leave the European Union in late June didn't have much effect on hiring plans for USA companies.

EYES ON THE FED: The Federal Reserve has been saying for months that it intends to raise interest rates if the economy is strong enough to warrant it. July's report provides more evidence the economy is doing well, making a boost in interest rates more likely.

A period of relative calm has also permeated the equity market, with the CBOE Volatility Index poised for a two-year low and more than 30 percent below its five-year average. The S&P 500 index advanced 6.76 points, or 0.3% to 2,163.79, with energy shares leading the gains. The U.S. unemployment rate was unchanged at 4.9%, higher than an expected decline to 4.8%.

Twenty-First Century Fox fell 4.7 percent after the company reported better-than-expected quarterly profit, but higher costs held back gains.

In 3.10pm trading in NY, the Dow Jones Industrial Average inched 0.06% higher, while the Nasdaq Composite Index added 0.24%.




The Nasdaq is up 158.84 points, or 3.2 percent. Analysts have tempered their estimates for a decline in second-quarter net income at the gauge's members to 2.7 percent, from 5.8 percent less than a month ago.

Apple Inc (AAPL.O) rose 1.8%, providing the biggest boost to the three main indexes. Compare that to the Dow's last eight-session losing streak, back in July and August of 2011, when it fell almost 860 points, or 6.7%, as investors dumped stocks during the Congressional impasse over raising the debt ceiling which resulted in a US credit rating agency stripping the United States of America of its AAA-rated credit rating.

LUNG CANCER TREATMENTS: Bristol-Myers Squibb stock sank $12.06, or 16 percent, to $63.26 after the company said its drug Opdivo did not halt progression of non-small cell lung cancer in a clinical study.

The Nasdaq is up 130.32 points, or 2.6 percent. Rival software firm Symantec disclosed a larger profit and better sales than expected in its fiscal first quarter, and its full-year profit forecast was stronger than expected. AIG stock rose 7.3%.

The price of gold fell $23, or 1.7 percent, to $1,344.40 an ounce, its biggest loss since May.

Declining issues outnumbered advancing ones on the NYSE by 1,435 to 1,219.

The dollar (Intercontinental Exchange US:.DXY) rose against a basket of currencies, with the euro near $1.108 and the yen (Exchange: JPY=) around 101.8.

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