Payrolls Power Wall Street To Record High

[ScienceRocks]

Payrolls Power Wall Street To Record High

Source: Reuters

U.S. stocks notched their best day in a month on Friday, with the S&P 500 and Nasdaq closing at record highs after a second straight month of robust labor market data boosted optimism that economic growth is accelerating.

The U.S. Labor Department report showed that nonfarm payrolls rose by 255,000 in July, far outpacing expectations for a gain of 180,000.

While the unemployment rate remained unchanged at 4.9 percent, it held below the 5 percent mark associated with full employment.

The S&P 500 ended at 2,182.87, its eighth closing high of the year, powered by a 1.9 percent gain in financials .SPSY, which would be primed for a profit boost should the Federal Reserve raise interest rates.

Read more: Payrolls power Wall Street to record high

Man, this is unreal for a communist that hates capitalism. Go Obama!

 

[EdwardBaiamonte]

Payrolls Power Wall Street To Record High

Source: Reuters

U.S. stocks notched their best day in a month on Friday, with the S&P 500 and Nasdaq closing at record highs after a second straight month of robust labor market data boosted optimism that economic growth is accelerating.

The U.S. Labor Department report showed that nonfarm payrolls rose by 255,000 in July, far outpacing expectations for a gain of 180,000.

While the unemployment rate remained unchanged at 4.9 percent, it held below the 5 percent mark associated with full employment.

The S&P 500 ended at 2,182.87, its eighth closing high of the year, powered by a 1.9 percent gain in financials .SPSY, which would be primed for a profit boost should the Federal Reserve raise interest rates.

Read more: Payrolls power Wall Street to record high

Man, this is unreal for a communist that hates capitalism. Go Obama!

but,
1) stock prices are high thanks to low or negative interest rates all over the world
2) economy is artifically proped up by low interest rates
3) personal incomes are down
4) U6 unemployment is high at 9.7%
5) worker participation is low
6) corporate earnings have declined for 5 quarters in a row