Friday, President Trump said he expects the US economy to recover from the C-19 coronavirus outbreak even faster than predicted after Friday’s jobs report showed a surprise gain of millions of jobs, but warned against electing Democrats in November.
“The only thing that can stop us is bad policy,” PresidentTrump said at a triumphant news conference at the White House.
“Left-wing, bad policy of raising taxes and green new deals,” he said.
“We are bringing our jobs back,” President Trump said of his Administration. “I think we are actually going to be back there higher next year than ever before.”
The country’s labor market unexpectedly bounced back in May, with NFPs rising 2.5-M after falling 20.5-M in April in the largest drop on record. The jobless rate fell to 13.3% from 14.7%, defying economists’ expectations it would reach 19%.
The numbers signaled that the US economy C-19 coronavirus chaos.
Friday, the major US stock market indexes finished at: DJIA +829.16 at 27110.98, NAS Comp +198.27 at 9814.11, S&P 500 +81.58 at 3193.80
Volume: Trade came in at 1.5-B/shares exchanged
- NAS Comp +9.4% YTD
- S&P 500 -1.1% YTD
- DJIA -5.0% YTD
- Russell 2000 -9.7% YTD
HeffX-LTN’s overall technical outlook for the week ended 6 June 2020 is Very Bullish.
Looking Ahead: Investors will not receive any notable economic data Monday
Have a healthy weekend, Keep the Faith!