LONDON (ShareCast) - (Sharecast News) - A solid employment report for the month of June saw Wall Street shrug-off concerns around the potential for a ratcheting-up in protectionist measures around the world.
By the closing bell, the Dow Jones Industrial Average was higher by 0.41% or 99.74 points at 24,456.48, while the S&P 500 had gained 0.85% or 23.21 points to 2,759.82 and the Nasdaq Composite collected 1.34% or 101.96 to 7,688.39.

Powering gains on the latter two indices, shares of Biogen finished the day almost 20% higher, adding over $12bn to the biotech giant's market capitalisation in the blink of an eye.

In turn, that drove the NYSE Arca Biotech index up 3.45% to 5,008.06 - to within a whisker of its 52-week highs.

Right behind on the sector leaderboard were: Non-ferrous metals (3.18%), Pharmaceuticals (2.11%) and Internet (1.78%).

In the small-cap (and hypothetically less exposed to international trade frictions) arena, the Russell 2000 advanced 0.87% to 1,694.05 and was also trading just below its 52-week highs.

The CBoE's VIX volatility index on the other hand shed 10.69% to 13.37.

Also helping to boosting sentiment, non-farm payrolls printed at up by 213,000 for last month, alongside upwards revisions to the prior two months' worth of data of +37,000, leaving the average monthly print year-to-date for NFP at what some economists termed as a "steady and solid" 212,000.

Commenting on Friday's figures from the Bureau of Labor Statistics, Michael Gapen at Barclays Research told clients: "This may not be the case going forward, and we will remain watchful for signs that business confidence is waning and hiring and spending plans are being postponed, but for now, the data on economic activity and labor markets continue to point to solid momentum in the domestic economy on the back of significant fiscal stimulus."

"[...] That said, soft wage growth and a bump in the U3 unemployment rate do not send a signal that the Fed is behind the curve."

At an annual pace of 2.7% (consensus 2.8%), the rate of growth in average hourly earnings was softer than May's reading of 2.8%, which saw the yield on both two and 10-year Treasuries slip one basis point to 2.54% and 2.82%, respectively.

On the global trade front, 25% tariffs on $34bn-worth of Chinese goods kicked-in one minute past midnight in Washington D.C., with Beijing retaliating in kind shortly thereafter.

Nevertheless, according to analysts at Oxford Economics, "Besides criticising the US move and vowing to retaliate, today's statement by China's Ministry of Commerce also indicated restraints and continued commitment to reform and globalisation."

In the company space, shares of Biogen shot up 19.63% , after it announced positive Phase II trial results for its Alzheimer's treatment, alongside Japan's Eisai.

JP Morgan edged higher by 0.33% as it denied a report in the German press that it might be interested in taking a stake in Deutsche Bank.

Caterpillar lost 0.29% announced the second phase of its expansion to its North Little Rock facility, while WWE picked up 1.74% after it signed a new five-year deal with USA Network and Fox Sports.

Dow Jones - Risers

General Electric Co. (GE) $13.85 3.13%
Microsoft Corp. (MSFT) $101.16 1.40%
Apple Inc. (AAPL) $187.97 1.39%
McDonald's Corp. (MCD) $159.42 1.33%
Intel Corp. (INTC) $51.37 1.22%
Merck & Co. Inc. (MRK) $62.20 0.89%
International Business Machines Corp. (IBM) $142.45 0.74%
Pfizer Inc. (PFE) $37.12 0.62%
Visa Inc. (V) $134.09 0.60%
Johnson & Johnson (JNJ) $125.77 0.60%

Dow Jones - Fallers

Walt Disney Co. (DIS) $104.79 -0.53%
Caterpillar Inc. (CAT) $135.39 -0.34%
Dowdupont Inc. (DWDP) $65.95 -0.26%
Nike Inc. (NKE) $76.48 -0.09%
Walmart Inc. (WMT) $84.51 -0.07%
Coca-Cola Co. (KO) $44.63 -0.04%
American Express Co. (AXP) $98.52 -0.01%
Exxon Mobil Corp. (XOM) $82.33 -0.00%
Home Depot Inc. (HD) $194.51 0.04%
3M Co. (MMM) $197.38 0.06%

S&P 500 - Risers

Biogen Inc (BIIB) $357.48 19.63%
Endo International Plc (ENDP) $10.86 7.31%
Frontier Communications Co. (FTR) $5.51 5.96%
Spectra Energy Corp. (SE) $16.53 5.93%
GameStop Corp. (GME) $15.15 3.48%
Mallinckrodt Plc Ordinary Shares (MNK) $19.92 3.37%
Gilead Sciences Inc. (GILD) $75.21 3.30%
Freeport-McMoRan Inc (FCX) $17.51 3.24%
Alexion Pharmaceuticals Inc. (ALXN) $132.20 3.22%
Southwestern Energy Co. (SWN) $5.47 3.20%

S&P 500 - Fallers

Newmont Mining Corp. (NEM) $37.82 -1.61%
Allegion (ALLE) $76.86 -1.32%
Gap Inc. (GPS) $31.25 -1.09%
Kohls Corp. (KSS) $71.38 -0.97%
Illinois Tool Works Inc. (ITW) $139.64 -0.89%
Estee Lauder Co. Inc. (EL) $142.41 -0.78%
Dr Pepper Snapple Group Inc. (DPS) $122.92 -0.72%
Genuine Parts Co. (GPC) $90.74 -0.69%
Ingersoll Rand Ltd. (IR) $89.87 -0.65%
Expeditors International Of Washington Inc. (EXPD) $71.85 -0.65%

Nasdaq 100 - Risers

Biogen Inc (BIIB) $357.48 19.63%
Dish Network Corp. (DISH) $34.99 4.29%
Gilead Sciences Inc. (GILD) $75.21 3.30%
Alexion Pharmaceuticals Inc. (ALXN) $132.20 3.22%
Baidu Inc. (BIDU) $251.77 3.15%
Biomarin Pharmaceutical Inc. (BMRN) $98.25 2.88%
Check Point Software Technologies Ltd. (CHKP) $102.81 2.84%
Charter Communications Inc. (CHTR) $304.43 2.79%
Mercadolibre Inc. (MELI) $312.91 2.78%
Celgene Corp. (CELG) $82.44 2.55%

Nasdaq 100 - Fallers

Tesla Inc (TSLA) $308.90 -0.08%
Shire Plc Ads (SHPG) $170.47 -0.08%
Seagate Technology Plc (STX) $58.59 -0.03%
Express Scripts Holding Co (ESRX) $80.07 0.14%
Costco Wholesale Corp. (COST) $209.62 0.23%
American Airlines Group (AAL) $38.09 0.26%
Fastenal Co. (FAST) $48.21 0.27%
Cisco Systems Inc. (CSCO) $42.71 0.35%
Automatic Data Processing Inc. (ADP) $134.22 0.38%
Twenty-First Century Fox Inc Class A (FOXA) $48.93 0.39%

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