By Jimmy
Weekly market recap
For the week, the $S&P 500 Index (.SPX.US)$advanced 0.67%, the $Dow Jones Industrial Average (.DJI.US)$gained 1.02%, and the $Nasdaq Composite Index (.IXIC.US)$rose 1.94%.
The year's second half started in the way the first half ended, with stock indexes levitating a bit day by day, bond yields drifting lower, and options-based volatility measures edging toward somnolence. Not even Friday's news of a stronger-than-expected June jobs gain could disturb the mellow mood, which might reflect the focus of traders and investors on the long Independence Day weekend, rather than the markets.
The 850,000 jump in nonfarm payrolls handily topped economists' guesses that centered around 720,000, in contrast to misses on the downside in the two preceding months. As in April and May, the latest increase was powered by another big jump (343,000) in leisure and hospitality positions as the economy continued to reopen following pandemic-related restric...