All Blog Entries

Stocks rallied on Friday despite the worst jobs report in almost 100 years. The number wasn't much of a surprise and, at -20.5 million, it actually came in lighter than the 21 million or so that was expected. Some estimates were closer to 22 or 23 million. So it gave investors and traders a reason to keep the upside momentum going. The Dow gained 455-points and closed near the highs of the day. Bonds pulled back giving up much of Thursday's big gains.

...

Originally Posted by coolhand

The bulls had a very good week last week, especially if you were exposed to the S Fund. We have not hit a higher high yet, but the market is not far from making one if the rally continues on this up-leg. No doubt, many cannot fathom how this market continues to defy gravity given the headlines. Kinda makes you want to through out fundamentals altogether, doesn't it?




The up-trend remains firmly in place,

...

The logic behind the market gets scrambled again after the worst jobs report in history sparks gains in stocks. The economy and stock market continue to move in opposite directions. But is that really abnormal? The jobs report numbers were old news to investors who were watching the weekly jobless claims so low expectations were already in place. Fear of mission out (FOMO) still reigns as a major driving force for the market thanks to the collective idea that the economy is bound for a quick recovery. ...

A record 20.5 million jobs were lost in April as unemployment rate jumps to 14.7%

Nonfarm payrolls fell by 20.5 million in April and the unemployment rate rose to 14.7%, both post-World War II records.

Economists had been expecting a loss of 21.5 million jobs and the unemployment rate to surge to 16%.

The “real” unemployment rate, which includes workers not looking for jobs and the underemployed, surged to 22.8%.

https://www.cnbc.com/2020/05/08/jobs...pril-2020.html

Stocks rallied yesterday erasing the losses from Wednesday. Two down days in a row have become rare, and it has actually been more than two months since we've seen three down days in a row for the S&P500. The Dow gained 211-points and we saw healthy gains across the board, although for a third straight day the indices closed well off their intraday highs with some late selling.

...