Friends
Stocks rallied nicely on this first day of June buoyed by a strong jobs report. The non-farm payroll number was better than expected, the unemployment rate fell to 3.8%, and the average hourly earnings numbers continues to climb-albeit at a rate that keeps the inflation wolves at bay. At the moment, despite the worries of what trade wars could do, the economy is humming along. Confidence is high and as we have seen, corporate earnings are strong.
As for stocks, by the close the Dow Jones Industrial Average was up 219 points to finish the day at 24,635. The S&P 500 was up 29 points to close at 2,734. Gold was down $7 to trade at $1,297 per ounce, while oil was down $1.44 to trade at $65.60 per barrel WTI.
It was a volatile week for stocks, filled with economic data and political headlines. As mentioned, the economic data is good, the political headlines are mixed. Let’s see what next week has in store for us.
Have a great weekend everyone.
