‘Stocks Love Stimulus’: Nasdaq Posts New Record High As ‘Worrisome’ Jobs Report Boosts Relief Prospects

Stocks rose to record highs Friday after the Labor Department reported the job market's worst monthly showing since January—a worrying sign for the broader economy and the 8 million Americans still unemployed, but a strong indication the Federal Reserve could prolong the monetary stimulus measures that have lifted stocks to new highs during the pandemic. The tech-heavy Nasdaq registered its highest close ever, climbing 0.

Buoyed by gains in tech stocks like Etsy, ServiceNow and chipmaker Nvidia, the S&P 500 closed virtually flat near a record high from Thursday, ending the day at 4,535 points. Many experts attributed the gains to a disappointing unemployment report Friday morning showing the economy gained only 235,000 jobs in August, significantly lower than the nearly 750,000 additions economists expected.

In an email, Jay Pestrichelli, the CEO of West Palm Beach investment firm Zega Financial said it should put less pressure on the Fed to reduce, or taper, its monthly bond purchases of $120 billion, which started last year to help boost the market during the pandemic. Still, Pestrichelli said the report's significant slowdown in hiring marked a"worrisome" sign for the U.S. economy in light of rising inflation—a combination that sparked a decade of lackluster stock returns in the 1970s.

Sure, but can Biden change the course of a hurricane like Trump did with the stroke of a sharpie!

Everything after January in the above is not news

I keep trying to tell people ADA is better. But there are way too many people hodling BTC

Twitter should allow realDonaldTrump back on just for this. 😆

TrumpMeltdown

just pay a little bit.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks end mostly lower even as tech drives Nasdaq higherStocks closed mostly lower Friday following a weak jobs report, but gains for a handful of Big Tech companies allowed the Nasdaq composite to sneak in another record high. For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her earn_with_Jens Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success this is terrible news
Source: latimes - 🏆 11. / 82 Read more »

Stocks end mostly lower even as tech drives Nasdaq higherStocks closed mostly lower Friday following a weak jobs report, but gains for a handful of Big Tech companies allowed the Nasdaq composite to sneak in another record high. For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her earn_with_Jens Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success this is terrible news
Source: latimes - 🏆 11. / 82 Read more »

Wall St Week Ahead Investors grow wary as stocks hit new highsInvestors are girding their portfolios for potential stock market volatility, even as equities hover near fresh highs after logging seven straight months of gains. Non sense
Source: Reuters - 🏆 2. / 97 Read more »

14 dividend stocks from a winning value manager as the broader market hits record highsThese stocks have yields that are at least twice those of 10-year Treasury notes and plenty of upside potential. Here are 14 dividend stocks selected for yield and value: good luck Lordy So true 🙂👍
Source: MarketWatch - 🏆 3. / 97 Read more »