Wall Street Posts Gains, Despite Survey Indicating Slowed Wage Increases
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iStock/Thinkstock(NEW YORK) — Wall Street built on Friday’s gain by posting another positive day on Monday, with all three major indices finishing the day higher than they began.
The Dow Jones Industrial Average finished up 19.26 to 16,399.67.
The Nasdaq gained 57.63, closing the day at 4,316.07, and the S&P 500 jumped 17.25, finishing at 1,904.01 — the first close above 1,900 in over a week.
A survey released by the National Association for Business Economics found that just 24 percent of responding firms increased wages and salaries in the third quarter of the fiscal year. That figure, lower than the preceding months, “signals a slowdown in the trend toward wage and salary increases that began with the January 14 survey.”
Still, the NABE notes, 32 percent of firms saw larger employment figures, with just seven percent reporting declining employment.
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