S&P Midcap E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Friday closed up +1.95%, the Dow Jones Industrials Index ($DOWI) closed up +1.85%, and the Nasdaq 100 Index ($IUXX) closed up +1.64%.
U.S stock indexes on Friday shook off early losses and settled sharply higher. Stocks found support Friday on a stronger-than-expected U.S Feb payroll report. Stocks on Friday initially moved lower as weakness in technology stocks undercut the Nasdaq 100 ($IUXX) and the overall market. Also, a spike in T-note yields weighed on stocks early Friday after the 10-year T-note climbed to a new 1-year high.
Friday's U.S Feb payroll report was supportive for stocks. U.S. Feb nonfarm payrolls rose +379,000, stronger than expectations of +200,000 and the biggest increase in 4 months. Also, the Feb unemployment rate unexpectedly fell -0.1 to an 11-month low of 6.2%, showing a stronger labor market than expectations of unchanged at 6.3%.
Additional U.S. economic data on Friday was negative for sto... Read more