Independence Day Observed Friday for US Markets

#IndependenceDay #US #stock #markets #DJIA #NFPs #jobs #investors #PresidentTrump #economy #WhiteHouse #PPP #vaccine #C19coronavirus

$DIA $SPY $QQQ $RUTX $VXX

Stocks rose Thursday and gained on the week, as investors cheered the resiliency of a US economy that created nearly 5-M jobs in June and the number for May revised to nearly 3-M.

President Trump said June’s better-than-expected jobs report shows a strong rebound from losses due to the C-19 coronavirus.

“Today’s announcement proves our economy is roaring back,” President Trump said Thursday at a White House news conference. “These are historic numbers.”

He predicted a resurgence just before the November election.

The rebound of the US jobs market accelerated in June, as businesses continued to reopen. Payrolls rose by 4.8-M last month and the unemployment rate fell to 11.1% from 13.3% in May.

“The PPP program worked,” Larry Kudlow said in a TV interview “It was brilliantly designed, and I think it will continue to pay off.”

In addition to the Top line of the report being so good, it showed high results for many different groups, including a “700,000 job increase for African Americans. Hispanics are up 1.5-M in this report, and for women, 3-M.”

Wrong again, economists forecast’d payrolls to rise by 3-M and an unemployment rate of 12.5%.

Wall Street ended July’s 1st 2 trading days in Q-3 on a positive note, buoyed over the past 2 days both after Pfizer’s (NYSE:PFE) coronavirus vaccine candidate showing progress in a trial phase, and the Fed’s pledge to keep the money flowing “for years.” 

Thursday, the major US stock market indexes finished at: DJIA +92.39 at 25827.38, NAS Comp +53.00 at 10207.63, S&P 500 +14.15 at 3129.88

Volume: Trade on the NYSE came in at 897-M/shares exchanged

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias for the week ended 2 July 2020

Looking Ahead: Investors will receive the ISM Non-Manufacturing Index for June Monday.

Have a Star Spangled 4th of July Weekend

  #Blacks, #Bullish, #DIA, #DJIA, #Fed, #Hispanics, #investors, #jobs, #market, #money, #NFPs, #NYSE, #PPP, #President Trump, #QQQ, #RUTX, #SPX, #SPY, #stocks, #White House, #women