Stocks jump as job growth picks up
Hodges Capital Management founder Craig Hodges reflects on the 2021 markets thus far and looks ahead to the second half of the year.
U.S. equity markets rallied Friday as investors digested the better-than-expected June jobs report.
The Dow Jones Industrial Average gained 33 points, or 0.1%, while the S&P 500 and the Nasdaq Composite rose 0.21% and 0.37%, respectively. The early gains have the S&P 500 trading at an all-time high.
Ticker Security Last Change Change % I:DJI DOW JONES AVERAGES 34669.21 +35.68 +0.10%SP500 S&P 500 4333.09 +13.15 +0.30%I:COMP NASDAQ COMPOSITE INDEX 14581.481444 +59.11 +0.41%
Nonfarm payrolls increased by 850,000 workers in June as the unemployment rate ticked up to 5.9%, the Labor Department said Friday. Analysts surveyed by Refintiv were expecting the addition of 700,000 and the unemployment rate to fall to 5.7%. May’s reading was revised higher by 24,000 jobs to 583,000.
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