S&P 500 VIX Futures Market News and Commentary
The S&P 500 Index ($SPX) on Friday closed up +0.91%, the Dow Jones Industrials Index ($DOWI) closed up +1.22%, and the Nasdaq 100 Index ($IUXX) closed up +1.07%.
The U.S. stock market on Friday posted solid gains due to the strong payroll report, the rise in U.S. consumer sentiment to a 7-month high, and positive trade news.
November U.S. payrolls rose sharply by +266,000, which was much stronger than market expectations of +180,000. In addition, Oct payrolls were revised higher by +28,000 to +156,000 from +128,000. The Nov payroll report was artificially inflated by the return to the labor market of 41,300 striking GM workers, but the payroll report ex-GM was still much stronger than expected at +225,000, suggesting that U.S. businesses remain optimistic about the economy and are still engaged in strong hiring. Another indication of the strong labor market was the drop in the Nov U.S. unemployment rate by -0.1 point to 3.5%, thus matching September's 50-1/2 year low.<... Read more