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© Reuters.
Investing.com – The S & P 500 jumped on Friday as the economy created more jobs than expected and discretionary consumers posted gains, led by Amazon.com.
The increase of 0.75%, the increase of 0.96%, is two tenths of the point to break its final high, set Tuesday.
The, however, jumped 1.58% to a new closing record, The also finished with a new closing record.
The 263,000 jobs created in April exceeded expectations of a gain of 181,000, according to Investing.com estimates, and the unemployment rate fell to 3.6%. The unemployment rate was the lowest since December 1969, said the Labor Department.
However, wage gains have not kept pace with economists' expectations and should slow down the pace of inflation. Loretta Mester, president of the Cleveland Fed, told CNBC Friday that she did not see the need to adjust the central bank's monetary policy.
Consumer discretionary led the market gain with Amazon.com's (NASDAQ 🙂 3% rise as investors were apparently inspired by Warren Buffet, who reportedly claimed that one of his executives from Berkshire Hathaway (NYSE 🙂 had been buying the stock. Amazon ends the week with a gain of 0.61%.
Newell Brands (NASDAQ 🙂 also sparked consumer interest, registering an increase of more than 13% after the release of first quarter results above estimates by Investing.com.
But Expedia (NASDAQ 🙂 took advantage of some of the decline in consumers' consumption rebound, retreating 0.9%, after its below-benchmark occupancy rate in its affiliated hotels spurred traders to sell the stock.
In the United States, US steel (NYSE 🙂 jumped more than 17% thanks to quarterly results that exceeded expectations, both
As a result of mixed quarterly results, some of Wall Street's most optimistic analysts have not hesitated to increase their outlook on the broader market.
Tom Lee, co-founder of Fundstrat Global Advisors, raised the S & P 500's end-of-year target from 2,925 to 3,125. The upgrade reflects the "recession" of first-quarter earnings, which is not reflected in the first quarter. was not as bad as feared, added Lee. Lee's goal is 6.1% higher than Friday's and would represent an annual gain of nearly 25%. The S & P 500 is up 17.5% since the beginning of the year.
Aside from profits, the rise in energy stocks also supported the market as a whole, as oil prices in the United States rose sharply, ending a torrid week in which they fell by 2, 15.%.
In the news of the company, the title of Tesla (NASDAQ 🙂 has increased by about 4.5%, the electric car manufacturer increasing the size of its last sale of shares to 3.1 million shares, against 2.7 million previously expected from the offer, under the leadership of CEO Elon. Musk is committed to buying an additional $ 15 million in shares, according to a document filed with the Securities and Exchange Commission.
Main winners and losers of the S & P 500 today:
Newell Brands (NASDAQ :), Flowserve (NYSE 🙂 and Monster Drink (NASDAQ 🙂 were among the top winners of the S & P 500 for the session.
Cognizant Technology Solutions (NASDAQ :), Arista Networks (NYSE 🙂 and Fortinet Inc. (NASDAQ 🙂 were among the worst of the session on the S & P 500.
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