- Drew Angerer/Getty
US stocks rose following a stronger-than-forecast jobs report for February, but not enough to avoid the first weekly loss since mid-January.
Here’s the scoreboard:
Dow: 20,902.98, +44.79, (0.21%) S&P 500: 2,372.60, +7.73, (0.33%) Nasdaq: 5,861.73, +22.92, (0.39%) WTI crude oil: $48.45, $-0.83, (-1.68%)
The US economy added 235,000 nonfarm payrolls in February, including a surge in construction jobs that was likely enabled by warmer whether. The unemployment rate dipped to 4.7% from 4.8%, according to the Bureau of Labor Statistics. Average hourly earnings rose 2.8% year-on-year. Bitcoin crashed. The cryptocurrency fell by as much as 16% after the US Securities and Exchange Commission rejected the Winklevoss twins’ exchange-traded fund (ETF).Canada’s labor market added 15,000 jobs in February, with full-time employment up and part-time employment down. Additionally, the unemployment rate fell to 6.6% from 6.8%. The US oil rig count rose for an eighth straight period this week, by eight to 617, according to Baker Hughes. West Texas Intermediate crude oil futures fell below $50 per barrel on Thursday for the first time since December after government data showed record inventories. An obscure senate rule could collapse the House GOP leadership’s plan to repeal and replace Obamacare . The Byrd rule makes it so any bill going through the budget reconciliation process – like the AHCA – can be blocked on the grounds that it contains an “extraneous matter” or something “merely incidental” to the federal budget.