Closing Bell: Jobs Report Sparks Big Rally; Walmart Holds Its Own Rally

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David Glasgow, of Virginia, looks up to the crowd before the start of the 2013 Walmart Shareholders Meeting at Bud Walton Arena in Fayetteville, Ark Friday June 7, 2013.
Getty ImagesDavid Glasgow, of Virginia, looks up at the crowd before the start of the 2013 Walmart Shareholders Meeting at Bud Walton Arena in Fayetteville, Ark., Friday.
Walmart gave itself a vote of confidence, and the monthly jobs report kicked off a Friday rally on Wall Street.

The Dow Industrials gained 207 points, its second-biggest advance of the year. The Nasdaq Composite rose 45 points, and the S&P 500 added 20, pushing all three major averages back into positive territory for the week.

Shares of Walmart finished 1 percent higher. The world's biggest retailer held its annual shareholders' meeting, and announced a $15 billion stock buyback. That news outweighed the effects of protests by some workers and shareholders about Walmart's wages, factory safety, and the alleged bribery of officials in Mexico and other countries.

Today's big rally was sparked by the Labor Department's employment report, which showed the U.S. economy created 175,000 jobs in May. That was a bit better than most economists predicted, but the unemployment rate ticked up to 7.6 percent as more Americans came off the sidelines and started looking for work again.

Many analysts said the report was in the "Goldilocks zone": Not too hot, and not too cold. They're tracking the economic data, looking for hints about when the Federal Reserve may begin to taper off its quantitative easing program.

The financial sector had the most dramatic reaction to the news. Shares of Morgan Stanley (MS) surged more than 6 percent, while Goldman Sachs (GS) jumped 4 percent. Citigroup (C) and JP Morgan Chase (JPM) followed close behind, with gains of about 1.5 percent each.

But bank stocks were far from the only winners. Today's rally was broad-based -- just four of the 30 names on the Dow Jones Industrial Average finished in the minus column. American Express (AXP) and Boeing (BA) helped set the pace, both advancing to new 52-week highs.

The technology sector also showed some strength this afternoon. Amazon (AMZN) jumped more than 3 percent, after saying that it will start selling its Kindle tablets in China.

Microsoft (MSFT), Apple (AAPL), Google (GOOG) and Facebook (FB) all finished higher as well. The Internet companies denied a Washington Post report that claimed they had given the National Security Agency direct access to their servers.

Apple will be back in the news on Monday, when the company kicks off its annual Worldwide Developers' Conference.


-Produced by Andy Myers

20 PHOTOS
18 Facts About Walmart That Will Blow Your Mind
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Closing Bell: Jobs Report Sparks Big Rally; Walmart Holds Its Own Rally

In fiscal year 2012, Walmart registered approximately $444 billion in sales, which is $20 billion more than Austria's GDP. If Walmart were a country, it would be the 26th largest economy in the world.

Photo: Wikimedia Commons, Andrew Bossi

Walmart has more employees worldwide — 2.2 million — than the population of Houston. The mega-retailer employs 1.4 million people in the U.S. alone.

Source: Walmart Corporate & Financial Fact Sheet

Photo: Flickr, jimmywayne

If Walmart were an army, it would have the second largest military in the world, behind China.

Photo: Wikimedia Commons, BrokenSphere

Walmart is bigger than Home Depot, Kroger, Target, Sears, Costco, and K-Mart combined.

Source: Seeking Alpha

Photo: Flickr, Kevin Dooley

The average family of four spends over $4,000 a year at Walmart.

Source: Otherwords.org

Each week, Walmart serves more than 200 million customers at more than 10,400 stores in 27 countries.

Source: Walmart Corporate & Financial Fact Sheet

One of every four dollars Americans spend on groceries is spent at Walmart.

Source: Otherwords.org

Photo: Flickr, G.e.o.r.g.e

In 2010, CEO Michael Duke's annual salary of $35 million earned him more in an hour than a full-time employee makes in an entire year.

Source: ABC News

In 2009, Walmart sold more bananas than any other item.

Source: Bloomberg

Photo: Flickr, PinkMoose

China's exports to Walmart accounted for 11 percent of the growth of the total U.S. trade deficit with China between 2001 and 2006.

Source: Economic Policy Institute

Photo: Wikimedia Commons, Agnieszka Bojczuk

If Walmart's more than 900 million square feet of retail space were spread out over one place it would take up roughly 34 square miles, which is about 1.5 times the size of Manhattan.

Photo: Wikimedia Commons: Daniel Schwen

Walmart parking lots alone take up an area roughly the size of Tampa, Florida.

Source: Walmart Watch

Photo: Wikimedia Commons: Wt90401

In 2000, Walmart was sued 4,851 times, or about once every 2 hours.

Source: USA Today

Photo: Wikimedia Commons, maveric2003

90 percent of all Americans live within 15 miles of a Walmart.

Source: Business Pundit

The Walton family has given away about 2 percent of its net worth to charity — Bill Gates is giving away 48 percent of his net worth and Warren Buffet 78 percent of his net worth.

Source: Business Pundit

An additional Walmart Supercenter per 100,000 residents increases average BMI (body mass index) by 0.25 units and the obesity rate by 2.4 percent.

Source: SSRN

The most frequent destination typed into GPS device Telenav is Walmart.

Source: Wireless and Mobile News

Photo: Wikimedia Commons, Attitude2000

Roughly 4,700 (about 90 percent) of international stores operate under a banner other than Walmart, including Walmex in Mexico, Asda in the UK, Seiyu in Japan, and Best Price in India.

Source: Walmart Corporate & Financial Fact Sheet

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