Markets rally after forecast-busting US jobs data (AP)

LONDON – Stocks spiked sharply higher on Friday after forecast-busting U.S. jobs figures reinforced hopes that the recovery in the world’s largest economy is gathering pace at a time when other regions, notably Europe, may be heading back into recession. Figures from the Labor Department showed that employers in the U.S. added 243,000 jobs in [...]

Analysis: Stock-picking makes a comeback as macro tides fade (Reuters)

NEW YORK (Reuters) – Stock-picking once again matters on Wall Street. After a year in which stocks moved in near-lockstep regardless of individual merit, the herd mentality is crumbling away. The move away from a frenzied rush in and then back out of the market is a welcome sign for stressed-out fund managers and lay [...]

Nasdaq vaults to 11-year high on surge in jobs (Reuters)

NEW YORK (Reuters) – A surge in hiring in the world’s largest economy last month drove the Nasdaq to an 11-year high on Friday as optimism grew that the labor market is on a steady path to recovery. The broad-based gains on solid trading volume also sent the Dow Jones industrial average near a four-year [...]

Deutsche Boerse board member wants CEO out: paper (Reuters)

FRANKFURT (Reuters) – Deutsche Boerse’s (DB1Gn.DE) chief executive Reto Francioni should step down following the collapse of its $7.4 billion plan to merge with NYSE Euronext (NYX.N), a member of the German exchange operator’s supervisory board told a newspaper. “The question needs to be asked whether there have to be consequences (for management),” Johannes Witt, [...]

Why small companies’ stocks deserve a closer look (AP)

WASHINGTON – Underperforming money managers are losing their most reliable scapegoat. Since the 2008 financial crisis, the nation’s professional stock-pickers — who manage billions for pension funds, endowments and wealthy families — have said stocks were too stuck-together to build smart, market-beating portfolios. When stocks are rising and falling in unison based on the same [...]

Jobs report lifts Dow to highest mark since ’08 (AP)

NEW YORK – A drop in the unemployment rate to its lowest level in three years propelled the Dow Jones industrial average Friday to its highest close since May 2008, before the financial meltdown later that year. The Nasdaq composite index hit an 11-year high. The Dow jumped 156.82 points to 12,862.23, its highest mark [...]

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