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Richard's Thoughts on the Bull Market

Daily Recap

A solid jobs report sent nearly all major averages in the U.S. higher. According to the monthly nonfarm payrolls report, the economy added another 209,000 jobs in July, a figure that came in above expectations. The unemployment rate fell to 4.3%, which marks a 16-year low. Wages rose 0.3% in July, but over the past 12 months are only up 2.5%.

 

The positive news sent the Industrials up 67 points to 22,092, while the Transports saw a greater percentage gain, up 0.82%. The Nasdaq rose 11 points to 6,352 while the broader S&P 500 rose 5 points or 0.19%.

 

Overseas markets were mixed, with strong gains in Europe and modest losses in Asia. The Stoxx Europe 600 rose a hefty 0.95%, led by France's CAC 40 (up 1.42%) and the German DAX (up 1.18%). In Asia, Hong Kong and India's Sensex markets saw small gains but most other markets lost ground. The Asia Dow closed ... Log in or subscribe to continue reading.


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