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12:09 pm Markets seem to have pushed commercial concerns down, as investors applaud a strong employment report that suggests economic fundamentals remain strong despite current uncertainties.
The Dow Jones Industrial Average gained 145.29 points, or 0.7%, at 24,502.03, with McDonalds (MCD) and Walgreens Boots Alliance (WBA) up more than 1%. The S & P 500 rose 0.9% to 2762.10 and the Nasdaq Composite rose 1.2% to 7678.79.
The release of June data shows that the United States added 213,000 jobs last month, better than the 200,000 predicted by economists, and even though the unemployment rate rose from 3.8% to 4%. %, there was a good reason for that. According to Joseph Song economist at the Bank of America healthy hiring seems to attract more workers into the labor market, as the labor force rate has risen slightly to 62 , 9% 62.7%
"With more laxity in the labor market, it may take longer for wages to be higher, which should contain labor costs. short-term inflationary pressures and pressures ". ] And the day the trade war broke out, it's exactly what the market needed to hear
Dow Dips 10 points as tariffs, the economy Battle in a dead end
10:24 am This is a battle between the rates and the job report this morning. The Dow Jones Industrial Average lost more than 80 pre-opening points on commercial concerns, then the employment report comforted the markets, and helped the benchmark of blue chips to clear almost all his losses. ] The Dow Jones Industrial Average lost 10.64 points, or 0.1%, to 24,346.10, while the S & P 500 increased by 0.3 % to 2744.02, and Nasdaq [19459006
Brad McMillan Chief Investment Officer, Commonwealth Financial Network believes that the June jobs report, stronger than anticipated, mitigates tariff concerns. "The increased participation in the workforce is encouraging," he adds.
And he's not the only one. Charlie Ripley Chief Investment Strategist for Allianz Investment Management writes that the job market continues to be a bright spot for the economy. "The increase in wages should result in higher consumption and higher output of the economy in the coming months," he says.
7:34 After a hectic morning session, Asian markets rebounded on Friday. and China has imposed tariffs on billions of dollars worth of goods. After dropping nearly 1.4%, the Shanghai Composite Index finished up 0.5% at 2,747.23. The Shanghai Composite fell nearly 12% in a month following trade tensions with the United States. Hong Kong Hang Seng increased by 0.5% to 28,315.62 while the Kospi of South Korea gained 0.7%. Exceptions to the rule: the markets of Taiwan, Singapore and other Southeast Asian countries ended down
. the actions do not seem to follow the example of Asia. S & P 500 futures fell 0.2%, while the Dow Jones Industrial Average futures fell by 88 points, or 0.4%. Nasdaq composite futures fell 0.2%.
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