Wall Street ends solidly in the green despite jobs data miss
Shares on major United States markets closed in the positive territory on Friday after the latest economic data report showed that the unemployment rate in the country declined 0.3 percentage points. President Joe Biden and members of his administration took credit for the upbeat report, while Cleveland Federal Reserve President Loretta Mester noted that more progress would be needed for the Fed to alter its monetary policy measures. The Dow was up 89 points, 0.3%, to 34,666 at midday in New York. The Nasdaq improved 185 points, 1.3%, to 13,800, and the S&P 500 added 27 points, 0.7%, to 4,220. “It is not just the US that is doing well today — a fresh record high for the Dax should continue to bring momentum funds to Europe, while the weaker dollar and softer yields have proven a boon for gold too,” IG Chief Market Analyst Chris Beauchamp wrote. “…Still, traders will want to see today’s momentum last beyond the weekend, since it has been a dull few weeks and an uptick in both up and down volatility would be welcome.” Nick Note: It is pretty obvious the studio (fund) money wants to jump in the pool. They just need the opinion makers to tell them the water if fine. Our cush served us well. And you got to stay for the rally… How cool is that. we have another test and that is the CPI report next week. This is where the con men will try to peddle reflation as inflation. Kind of hard to see that as the year over year wage growth is only 2%. I can not belive the over priced nusismatic shit being sold to the Americ public as a hedge against non existant inflation….. We will soon be shorting the precious metals. As they fuck to the wall the latest group of gold and silver suckers.