US Unemployment Lowest Since 2000, Market Rallies

US Unemployment Lowest Since 2000, Market Rallies

US Unemployment Lowest Since 2000, Market Rallies

$DIA, $SPY, $QQQ, $VXX

Friday, US President Donald Trump touted the nation’s low unemployment rating and hit out at the ongoing investigation into his campaign’s ties to Russia in a Tweet.

The unemployment rate fell to 3.9% for the 1st time since Y 2000, according to the Department of Labor.

President Trump has repeatedly referred to special counsel Robert Mueller’s investigation into Russian election interference and possible connections with the Trump campaign as a “witch hunt,” denying that he or his campaign colluded with Russia. And today the federal judge in the Manafort case aligned with the President

President Trump’s approval rating is now at 51%.

The Stock Market Rallied

US stocks rallied Friday following the publication of the monthly jobs report, with technology names leading the charge.

Apple (NASDAQ:AAPL) 183.83, +6.94, or 3.9% to all time highs

Friday, the major US stock market indexes finished at: DJIA +332.36 at 24262.51, NAS Comp +121.47 at 7209.62, S&P 500 +33.69 at 2663.42

Volume: Trade on the NYSE came in at 766-M/shares exchanged

  • NAS Comp +4.4% YTD
  • Russell 2000 +2.0% YTD
  • S&P 500 -0.4% YTD
  • DJIA -1.9% YTD

HeffX-LTN’s Market Indexes Technical Analysis for the week ended 5 May 2018

Date Symbol Price Technical Analysis Support Resistance
4 May 2018 QQQ 164.97 Neutral (0.10) 162.30 166.33
4 May 2018 DIA 242.62 Neutral (-0.14) 238.32 242.85
4 May 2018 SPY 266.34 Neutral (-0.15) 259.11 268.41

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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