Stock Market Today

Department of Labor and the ADP employment data were lower than economists expected, but it still showed the U.S. labor market conditions improved.

The Labor Department will announce the five major non-farm payrolls in May this week. Analysts expect the figure will increase to 51.3 million , non-farm employment figures in April increased by 29 million people. If the projections are accurate, then it will become the biggest increase in 26 years.

after U.S. stocks opened, the U.S. Institute for Supply Management (ISM) reported that non-manufacturing activity index in May was 55.4% identical with the previous two months of reading. Analysts expect the figure will drop to 55.2%. Reading above 50 indicates expansion in service sector activities occur.

The ISM service sector data on the labor market is considered positive, the population of employment in the agricultural industries,80% of people employed in service industries.

Despite the recovery in the U.S. services sector slowed down,  the manufacturing sector continued to expand. The us Commerce Department reported that new U.S. factory orders in April rose 1.2%, Analysts expect the figure will rise to 1.8%. orders in March were up 1.7% for growth.

Federal Reserve Chairman Ben Bernanke delivered a written speech in Detroit on Thursday, he said the unemployment rate is still very worthy of concern.

in Other economic data, the us first-quarter productivity down from 3.6% to 2.8%, the market is expected to grow 3.4%.it is showed in another report of the Labor Department
European markets finished higher. Japan’s Nikkei 225 average rose 3.2 percent, it is the biggest single-day record gains during the year, depreciation of the yen surged to stimulate the exporter-related stocks. New York crude oil futures prices closed higher, gold futures prices down.