The S&P 500 Index rose at the end of the last week, based on the economic US data. Nonfarm payrolls increased 138,000 last month as the manufacturing, government and retail sectors lost jobs, the Labor Department said on Friday. However, the economy created 66,000 fewer jobs than previously reported in March and April. The U.S. manufacturing index inched slightly higher, hitting 54.9 in May.
Private employers added 253.000 jobs
U.S. companies in May hired more workers than anticipated by a wide margin to rebound from a six-month low in the prior month, while a tightening labor market should point to increasing wage growth. U.S. private employers added 253.000 jobs in May, above economists' expectations, a report by a payrolls processor showed on Thursday.
FED reported moderate US economic growth
The U.S. economy continued to grow moderately in nearly all regions in recent weeks, a Federal Reserve survey showed. The central bank’s Beige Book economic report, based on anecdotal information collected by the 12 regional Fed banks through May 22, said several sectors from manufacturing to housing continued to expand slowly. Consumer spending softened, however, with many districts reporting little or no change in non-auto retail sales.