Home 2020 Independence Day Observed Friday for US Markets

Independence Day Observed Friday for US Markets


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


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

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.