The DJIA Rose 337 pts on Robust Jobs Data, China Trade Hopes
Friday, White House economic adviser Larry Kudlow declared that President Trump’s policies and strategies have reshaped the US economy and has put Americans back to work.
“America is working. We are in an American workers’ boom with respect to income and wages. But look, President Trump has restructured and rebuilt this economy with lower taxes and regulations and energy openings and trade openings, tough trade openings,”
The numbers suggest US consumers will keep the longest economic expansion in history, now in its 11th yr, driving into next year when Americans will decide whether to re-elect Donald Trump.
Mr. Kudlow said in a TV interview that “despite a certain amount of pessimism, the economy is outperforming expectations, economic policies from the President are working.”
TV investment guru Jim Cramer described Friday’s blockbuster jobs-market report as the “best number” he has seen in his lifetime.
“It does not matter whether you hate him or like him, these are real numbers,” he said in reference to President Trump.
“You cannot contradict that these are the best numbers of our lives. You can’t,” he said.
Mr. Cramer is generally optimistic about the economy. “I don’t see inflation. I don’t see recession,” he added.
The strong payroll gains suggest The Trump Administration’s 17-month trade dispute with China has not yet spilled over to the broader economy.
Friday, the major US stock market indexes finished at:
DJIA +337.27 at 28014.97, NAS Comp +85.83 at 8656.53, S&P 500+28.48 at 3145.91
Advancing issues outnumbered declining ones on the NYSE by a 2.93-to-1 ratio, and on the NAS, a 2.27-to-1 ratio favored advancers.
The S&P 500 posted 54 new 52-week highs and no new lows; the Nasdaq Composite recorded 124 new highs and 45 new lows.
Volume on US exchanges was 6.64-B shares, compared with the 6.65-B -share average over the last 20 trading days.
- NAS Comp +30.5% YTD
- S&P 500 +25.5% YTD
- Russell 2000 +21.2% YTD
- DJIA +20.1% YTD
Heffx-LTN overall technical outlook for the major US stock market indexes for the week ending 6 December 2019 is Bullish to Very Bullish
Investors will not receive any notable economic data Monday.
Have a terrific weekend.