Stocks gain after encouraging US jobs news


Oil rose above $102 a barrel for the first time in over a year as Egypt’s turmoil intensified, raising the risk of supply disruptions. In
Europe, traders dumped Portuguese stocks and bonds as the country’s government teetered on the edge of collapse. But the overseas news was offset by a brighter outlook for the US labor market: Fewer people sought jobless benefits last week, and ADP, the payrolls processor, said businesses added more jobs last month than analysts expected. The broader US monthly survey of employment is due Friday. ‘The key takeaway is that jobs matter more than Egypt,’ said Alec Young, at S&P Capital IQ.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of