Business News

US stocks mostly up on May hiring dataفسوللک،ل،کلکہ،لہلپ
NEW YORK, June 1 (APP/AFP) – Wall Street stocks were mostly higher
early Thursday following data showing a strong pickup in US private-sector hiring in May.
Private payrolls firm ADP reported that US companies added 253,000
jobs last month, much above the 180,000 forecast by analysts. The report raised expectations for Friday’s Department of Labor May employment report.
About 15 minutes into trading, the Dow Jones Industrial Average stood
at 21,005.47, down less than 0.1 percent.
The broad-based S&P 500 rose 0.2 percent to 2,415.81, while the
tech-rich Nasdaq Composite Index advanced 0.3 percent to 6,218.61.
Chemical company PPG rose 1.5 percent as it shelved a campaign to buy
paintmaker AkzoNobel after the Dutch acquisition target rejected three takeover bids from the US company.
Farm equipment maker Deere & Company climbed 2.3 percent after it
agreed to acquire the Wirtgen Group, a German maker of road construction equipment, for $5.2 billion, including debt.
Hewlett Packard Enterprise fell 4.4 percent after projecting
third-quarter profits of 24 to 28 cents per share, below the 31 cents expected by analysts.
Dollar General surged 5.8 percent as the discount retailer reported a
6.5 percent rise in first-quarter sales to $5.6 billion. Same-store sales increased 0.7 percent.