Nonfarm payrolls fell by 36,000 jobs in February, compared to the estimate, which called for a 68,000 decrease in jobs. The unemployment rate remained at 9.7%, while expectations were that the rate would increase to 9.8%. Average hourly earnings rose 0.1%, slightly below the Street's forecast of a 0.2% increase. More from Bloomberg...
The Dow Jones Industrial Average rose 122 points (1.2%) to close at 10,566, the S&P 500 Index was 16 points (1.4%) higher at 1,139, and the Nasdaq Composite gained 34 points (1.5%) to 2,326. Crude oil was $1.29 higher at $81.50 per barrel, and the Bloomberg gold spot price dipped $0.14 to $1,132.06 per ounce. For the week, the DJIA rose 2.3%, the S&P 500 Index advanced by 3.1%, and the Nasdaq Composite gained 3.9%.
Magnificent Seven Update
Weekly Analysis Of Magnificent Seven ETFs
