Stronger Than Expected NFPs Driving Broad Based Rally Stocks

Stronger Than Expected NFPs Driving Broad Based Rally Stocks

$DIA, $SPY, $QQQ, $RUTX, $VXX

FLASH: US Stocks Driven by Strong NFPs Report, All 11 S&P Sectors finished in the Green, Thus Showing President Trump’s Policies are Working

The news that the US unemployment rate has dropped to a near 50 year lows of 3.6% as job growth is surging shows the agenda President Trump ran on and delivered is working for all Americans, VP Mike Pence said Friday.

“It is simply a confirmation of what the President has said all along,” VP Pence said on TV. “You let Americans keep more of what they earn, cut taxes on individuals and businesses, you roll back federal red tape and unleash American energy and fight for the trade deals that put American jobs and workers first, the American economy would come roaring back and we’re witnessing it.”

Under former President Barack Hussein Obama and former Vice President Joe Biden, there was less than 2% economic growth after 8 years, he added, but under President Trump, the Q-1 growth alone was 3.2%.

Wages are growing too, and manufacturing has “come roaring back,” VP Pence added. “Now we are seeing the most rapid increase in wages in the last 10 years and the best increase in wages over the last year has been among working Americans, blue-collar Americans.”

The Vice President also pushed back at comments made by former Vice President Joe Biden, the frontrunner in the Democratic primary race, who said earlier this week that The Trump’s Tax cuts were not being felt by middle-class Americans.

Meanwhile, the DJIA is up over 40% since President Trump was elected, and that makes a real difference for Americans’ 401K accounts and their retirement.

Friday, the major US stock market indexes finished at: DJIA+197.16 at 26504.95, NAS Comp +127.22 at 8163.98, S&P 500 +28.12 at 2945.64

Volume: Trade on the NYSE came in at 793-M/shares exchanged

  • NAS Comp +23.0% YTD
  • Russell 2000 +19.7% YTD
  • S&P 500 +17.5% YTD
  • DJIA +13.6% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes if Bullish to Very Bullish for the week ended 3 May 2019.

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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