Shares of retailers and other consumer-services companies rose after strong jobs data boded well for discretionary spending.
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Employers across the country added 253,000 workers to their ranks in May, according to payroll processor Automatic Data Processing and forecasting firm Moody's Analytics.
Separately, initial jobless claims, a proxy for layoffs across the U.S., increased by 13,000 to a seasonally adjusted 248,000 in the week ended May 27, the Labor Department said. While the new weekly claims rose to a five-week high, the rolling average remained consistent with the expanding jobs market portrayed in the ADP report.
(-By Rob Curran, firstname.lastname@example.org)
(END) Dow Jones Newswires
June 01, 2017 16:27 ET (20:27 GMT)