S&P 500 Cons Disc Futures Market News and Commentary
The S&P 500 Index ($SPX) on Friday closed up +2.62%, the Dow Jones Industrials Index ($DOWI) closed up +3.15%, and the Nasdaq 100 Index ($IUXX) closed up +2.02%.
U.S. stock indexes on Friday moved sharply higher with the S&P 500 at a 3-1/4 month high, the Dow Jones Industrials at a 3-month high, and the Nasdaq 100 at a new record high. Optimism that the global economy will rebound from coronavirus lockdowns pushed equity prices higher across the world on Friday. Stock gains accelerated Friday after U.S. May non-farm payrolls unexpected increased and the unemployment rate fell.
U.S. May non-farm payrolls unexpectedly rose +2.509 million, stronger than expectations for a decline of -7.5 million. Also, the May unemployment rate unexpectedly fell -1.4 to 13.3%, showing a stronger labor market than expectations for an increase to 19.0%.
Stocks fell back from their best levels Friday afternoon when the U.S. Apr consumer credit report plunged -$68.77 billion, weaker th... Read more