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From CNBC: US adds 213,000 jobs in June, better than expected, but wage growth is light

-The employment part of the economy continued to power forward in June, adding 213,000 jobs.
-The unemployment rate, however rose to 4 percent as more people returned to the job market.

The employment part of the economy continued to power forward in June, adding another 213,000 jobs though the unemployment rate rose to 4 percent, according to a government report Friday.

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Stocks rallied on Thursday and for the first time in a while, they closed going in the same direction as they had opened. The Dow gained 182-points on the day, which sounds great, but the broader indices saw even larger percentage gains.

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Tuesday was not a typical pre-holiday, pre-Independence Day kind of a trading day. It was early on but we have seen a series of intraday reversals that have been whipsawing traders lately. Volume was very light on the shortened trading day, the lightest trading volume of the year so far, so it wasn't any kind of panic selling. The Dow was down 132-points on Tuesday, erasing a triple digit morning gain.

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Stocks moved higher on Monday after a sharply lower open. It was a tale of two half days yesterday as we saw the Dow futures down about 200-points near the open, and we retested those lows in early afternoon trading before the bulls stepped up and rallied the indices into the close. The Dow ended the day up 36-points, or 0.15%, while the broader indices saw larger gains.

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Stocks were having a very solid day on Friday until the last hour of trading where most of the day's big gains were lost. The indices did close in positive territory, but a near 300-point gain turned into a 55-point gain for the Dow, and 1% gains in the S&P 500 and Nasdaq nearly completely evaporated. It was likely just end of the quarter shenanigans from money managers, but it did leave some ugly negative reversals on the charts.

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