Yida Toh
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Weekly market recap
For the week, $S&P 500 Index(.SPX.US$was up 1.57%; the $Dow Jones Industrial Average(.DJI.US$is headed for a weekly rise of 0.78%, while the $Nasdaq Composite Index(.IXIC.US$is looking at a weekly gain of 1.11%.
The Labor Department Friday showed the U.S. economy added 943,000 jobs in July. Economists expected 845,000 new jobs last month, according to Dow Jones estimates. The unemployment rate dropped to 5.4%, below the expectation of 5.7%.
"You saw a lot more jobs being created in those areas that are reopening — restaurants, hotels, logistics, transportation," Raymond James Chief Investment Officer Larry Adam said. "That's a good sign. I think that puts more spending power behind the consumer going forward and I think that that’s ultimately a good thing for the economy."
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For the week, $S&P 500 Index(.SPX.US$was up 1.57%; the $Dow Jones Industrial Average(.DJI.US$is headed for a weekly rise of 0.78%, while the $Nasdaq Composite Index(.IXIC.US$is looking at a weekly gain of 1.11%.
The Labor Department Friday showed the U.S. economy added 943,000 jobs in July. Economists expected 845,000 new jobs last month, according to Dow Jones estimates. The unemployment rate dropped to 5.4%, below the expectation of 5.7%.
"You saw a lot more jobs being created in those areas that are reopening — restaurants, hotels, logistics, transportation," Raymond James Chief Investment Officer Larry Adam said. "That's a good sign. I think that puts more spending power behind the consumer going forward and I think that that’s ultimately a good thing for the economy."
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