US stocks rise to new records despite weak jobs report

  • 📰 CNN Philippines
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Bad economic news was once again greeted with cheers on Wall Street as two top indexes closed out the week in record territory.

Investors brushed off Friday's surprisingly weak jobs report, which showed far fewer jobs were added last month than expected.

The jobs report also showed that the unemployment rate ticked up and wages surged. The jump in worker paychecks may not seem like a bad thing, but it tends to set off alarm bells about inflation. And many economists are worried inflation is due to come roaring back because of all the stimulus from Washington.

To that end, Apple, Google owner Alphabet, Netflix and Tesla posted solid gains Friday, as did Microsoft and other top tech stocks. That sector did bounce back sharply in April, with 331,000 jobs added. But it remains in a deep hole since Covid-19 forced the economy to essentially shut down last March.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

EternityPreparedness 지옥은 정말 무서운 곳입니다 절대 가면 안됩니다 지금 이 시간 예수님을 영접하고 죄로부터 돌이키십시오 죽음뒤에는 결정할 수 없지만 아직 살아있는 이 시간 기회가 있습니다

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines