News Summary: Stocks rise on steady US jobs growth

AP News
Posted: Jun 07, 2013 4:53 PM

JOBS NEWS: The stock market ended the week strongly after the government reported in its closely watched monthly employment survey that U.S. employers added 175,000 jobs in May, slightly more than economists had forecast.

NOT TOO HOT, NOT TOO COLD: Investors judged that the report was good on two fronts. It was strong enough to suggest moderate economic growth, but also weak enough to ensure that the Federal Reserve would stick to its stimulus program for now. The central bank is buying $85 billion a month to keep interest rates low and encourage borrowing and spending.

GAP GAINS: San Francisco-based clothes retailer Gap rose $1.11, or 2.7 percent, to $42.09 after it reported sales that exceed analysts' expectations.