Stocks Are Up After December Jobs Report Releases
- 5 years ago
According to Reuters, a strong payroll report from the Labor Department sparked a rally on Wall Street ahead of the weekend.
The jobs report indicated that the US economy added over 300,000 nonfarm payroll jobs during December, 2018.
But investors flocked back to stocks after Federal Reserve Chairman Jerome Powell suggested the central bank would be more flexible with monetary policy in 2019.
By the afternoon on Jan. 4th, the Dow Jones Industrial Average spiked 3.1-percent, adding 710-points, while rising to 23,396.
The S&P 500 also jumped 3.1-percent, with its top eleven sectors trading up.
But the Nasdaq Composite led gains on the day, rising over 4-percent, with 268-points in gains.
The jobs report indicated that the US economy added over 300,000 nonfarm payroll jobs during December, 2018.
But investors flocked back to stocks after Federal Reserve Chairman Jerome Powell suggested the central bank would be more flexible with monetary policy in 2019.
By the afternoon on Jan. 4th, the Dow Jones Industrial Average spiked 3.1-percent, adding 710-points, while rising to 23,396.
The S&P 500 also jumped 3.1-percent, with its top eleven sectors trading up.
But the Nasdaq Composite led gains on the day, rising over 4-percent, with 268-points in gains.