Business

Wall Street holds steady after jobs report

NYSE trader Image copyright Reuters

The Dow Jones closed at a fresh record high on Friday despite US employment data that fell short of expectations.

The jobs report showed companies added 261,000 jobs in October, and also reported wage declines and a rise in the number of people not in the labour force.

The Dow Jones rose 22 points or 0.1% to end at 23,539. The broader S&P 500 gained 7, or 0.3%, reaching 2,587.

Apple shares continued upwards amid a strong showing for tech generally.

The Nasdaq Composite rose 49 points or 0.7% to 6,763, a new high for the tech heavy index.

Apples share price increased by 2.6% after the firm reported stronger-than-expected-sales in the third quarter and forecast a blockbuster holiday season.

The California-based giant is counting on a trio of new phones, including the high-tech iPhone X, to advance sales. The iPhone X went on sale around the world on Friday.

But Qualcomm was the biggest riser on the Nasdaq, closing more than 12% higher after reports that Broadcom is exploring a deal to buy the smartphone chip maker.