Says the guy who fawns over Bernie Sanders. ROFL.
Of course, I don't "fawn" over Bernie, have acknowledged since day 1 he has zero chance, and am not delusional about what he would or could do if he was POTUS. But you already know that. Just another excuse to post a meaningless, untrue picture, that the sickos here will Jizz too. S & P 500 closed at 2,100. Too bad for you and your ilk.
Nonfarm payrolls increased by 287,000 in June; stocks back at pre-Brexit levels
By CORRIE DRIEBUSCH and
RIVA GOLD
Updated July 8, 2016 3:51 p.m. ET5 COMMENTS
A boost in hiring in June catapulted the S&P 500 to touch its record high and lifted all major U.S. stock indexes back to where they were before the U.K.’s vote to leave the European Union.
The S&P 500 rose as high as 2131.77 in intraday trade, climbing above its record closing level of 2130.82, hit on May 21, 2015.
In the bond markets, the 10-year Treasury yield settled at a record low of 1.366%.
U.S. employers added far more jobs than expected in June, providing reassurance that the U.S. economy is growing solidly after a weak report in May. The strong gains could bolster the case for the Federal Reserve to raise interest rates later this year, but many investors brushed off that possibility and instead focused on the economic implications.
After a shaky start to the year, major U.S. stock indexes had clawed back near record highs by mid-June. Then came the surprise decision on June 23 by the U.K. to leave the EU, which sparked a two-day selloff that wiped 871 off the Dow Jones Industrial Average.
U.S. employers ramped up hiring in June after a sluggish spring, adding 287,000 jobs. That's the strongest month of hiring since last October but it comes after a meager May report. WSJ's Spencer Jakab joins Lee Hawkins with analysis. Photo: Getty
On Friday, the blue-chip index climbed 266 points, or 1.5%, to 18162, above its pre-Brexit level of 18011.
The S&P 500 rallied 1.5% and the Nasdaq Composite gained 1.6%, also recovering from their June losses.
Technology and consumer discretionary companies, which typically do well when investors expect economic expansion, helped lead stocks higher Friday. From the U.K. referendum through Thursday, the best-performing sector in the S&P 500 was utilities, which investors tend to favor when they are seeking safety because those stocks offer steady dividend payouts. The potential shift in leadership bodes well for the broader index, some analysts and traders said.
The strong June jobs report fueled Friday’s gains.
TODAY’S HIGHLIGHTS
Nonfarm payrolls rose by 287,000 in June, the Labor Department said Friday, the strongest month of hiring since October. Economists surveyed by The Wall Street Journal had estimated that nonfarm employers added a seasonally adjusted 165,000 jobs last month. The May report had showed just 38,000 jobs were created, the worst reading since 2010.
“It helps alleviate fears that this economy was actually doing a U-turn and weakening,” said Quincy Krosby, market strategist at Prudential Financial.
Unemployment edged up to 4.9% in June from 4.7%.
The WSJ Dollar Index, which measures the dollar against a basket of 16 currencies, was largely unchanged.
In Europe, the Stoxx Europe 600 rose 1.6%.
A trader on the floor of the New York Stock Exchange earlier this week. PHOTO: BLOOMBERG NEWS
With a very strong report, it is possible the Federal Reserve may raise rates later this year, according to some investors, though instability in the global economy and financial markets could still make it very difficult, they say. This general consensus that a short-term rate increase by the Fed in 2016 is off the table is also helping drive the market higher, some analysts say.
“The economy is chugging along, creating some jobs, but the Fed is still unlikely to do anything for a while,” said Erik Davidson, chief investment officer at Wells Fargo Private Bank, adding that this should encourage investors to put money into U.S. stocks and, in particular, the consumer discretionary sector.
“This is a golden age to be a consumer in the U.S.,” he said, pointing to signs of a strong economy, solid jobs growth, a relatively strong dollar and the ability to borrow money cheaply.
What stocks need now, analysts and investors say, is a sign that U.S. corporate earnings are improving.
Next week, second-quarter earnings season begins in earnest, with companies includingAlcoa and J.P. Morgan Chase & Co. set to report.
Earnings of companies in the S&P 500 are expected to contract for the fifth consecutive quarter, according to FactSet. As of June 30, analysts expected corporate profits to fall 5.3% in the second quarter from the prior year, FactSet data show. For the year, on Friday analysts expected earnings growth of about 0.5%, down from 0.6% a week ago, according to FactSet.
On Friday, stocks in Asia closed lower. Japanese stocks fell 1.1%, ending the week down 3.7%. Stocks in Hong Kong fell 0.7% to close the week 1.1% lower, while stocks in Shanghai fell 1% but ended the week with gains of 1.9%.
The U.S. created 287,000 jobs in June, massively topping analyst expectations.
The national unemployment rate, meanwhile, rose slightly more than expected in June, to 4.9 percent, according to data released Friday by the Bureau of Labor Statistics.
However over the last three months, job gains have averaged about 147,000 per month.
See how silly all those statistics are.
The national unemployment rate, meanwhile, rose slightly more than expected in June, to 4.9 percent, according to data released Friday by the Bureau of Labor Statistics.
However over the last three months, job gains have averaged about 147,000 per month.
See how silly all those statistics are.
U.S. Stocks Surge After June Jobs Report
Nonfarm payrolls increased by 287,000 in June; stocks back at pre-Brexit levels
Please list 2 things Obama has done that would lead to the stock market going up.
Just two.
Further, you realize you were shitting all over the Brexit vote citing the 'wisdom of the markets' right?
So Brexit is a good idea now, correct?
What a fucking idiot this rat is.
Please list 2 things Obama has done that would lead to the stock market going up.
Just two.
Further, you realize you were shitting all over the Brexit vote citing the 'wisdom of the markets' right?
So Brexit is a good idea now, correct?
What a fucking idiot this rat is.
I can name two things
1) QE, artificial government intervention in the market
2) horrible economy, anti business rhetoric and economic uncertainty causing businesses to cut their labor force and horde cash.
