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Dow Jones Industrial Average Latest News: Gold Rebounds Above $1,300 After Jobs Miss

Wochit 1:03 mins

Gold turns around an earlier loss after a weaker-than-expected U.S. July jobs report. Gold futures turned a steep loss into a small gain after July payrolls growth came in short of expectations, leading analysts to say plans for the Federal Reserve to taper its bond buying could be pushed further out. Stocks fell in early trading after the U.S. economy added fewer jobs than forecast in July, blunting optimism that the economy is poised to pick up strength in the second half of the year. Driven by better news on the economy, the stock market roared back to record highs. The Standard & Poor's 500, the Dow Jones industrial average and the Russell 2000 index set all-time highs. The S&P broke through 1,700 points for the first time. The Nasdaq hit its highest level since September 2000.

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