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Richard's Thoughts On Recession

Daily Remarks

Well, U.S. stocks are back at pre-Brexit levels ... but the ride sure was fun. Today's monthly nonfarm payrolls report (the jobs report) came in way better than expected, leading to a rally across the board.

 

Subscribers will remember that May's report showed a sharp slowdown in hiring, causing many to worry about an end to robust job growth. It would seem, based on June's seasonally adjusted increase of 287,000 jobs, that the economy still remains on a positive trajectory.

 

Both stocks and bonds were higher today in what felt like a feeding frenzy. The Industrials added 205 points and the S&P rose above it's previous record high during intraday trading. Both the S&P and Nasdaq ended the day up more than 1.5%.

 

The 10-year Treasury settled at a record low of 1.366%, while the dollar moved slightly lower. Gold was down a few bucks but silver headed higher, rising almost 2%. Oil traded mostly flat, still sitting near ... Log in or subscribe to continue reading.


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