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Jobs report helped stock market

As the private sector added 168,000 new jobs in December, 13,000 more than expected in a Bloomberg poll of economists, it helped the stock market Friday, according to Clark Yingst, chief market analyst of Joseph Gunnar.

By Amanda McGrory-Dixon | Updated on January 08, 2013

As the private sector added 168,000 new jobs in December, which is 13,000 more than expected in a Bloomberg poll of economists, it helped the stock market Friday, Jan. 4, according to Clark Yingst, chief market analyst of Joseph Gunnar, a full-service securities and investment banking firm.

Also supporting the stock market was that falling from the fiscal cliff has been put off for another two months, Yingst says. Taking a look at the sectors, nine of the 10 major industries in the Standard & Poor’s 500 finished in the black Friday while only one was in the red. Specifically, technology was the only losing sector with a minus 0.72 percent, and Apple Computer/AAPL suffered a 2.79 percent drop.

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