–
November was a fantastic month on Wall Street. Following a series of positive vaccine news, the traditional Dow Jones index delivered its best month since January 1987.
December has so far not been a brake on the stock market. On Friday night, the Dow Jones rises to a new record – just over 100 stock market points above the previous record on November 24.
The broad S&P 500 index and the Nasdaq technology index have also had a solid week, consolidating both positions at “all-time highs”. This is how the indices did on Friday:
- The S&P 500 rose 0.88 percent.
- The Dow Jones rose 0.83 percent.
- Nasdaq rose 0.70 percent.
–
Despite disappointing job numbers
The end of the week could have looked darker on Wall Street. Just before the stock exchanges opened, job numbers were released. At least before the corona crisis, these were known as “the most important figures of the month”. This month, 245,000 new jobs were created in the United States. That was far from the expectation of 469,000, according to Direkt Makro.
But neither this, nor the announcement that Pfizer will be able to deliver only half of the vaccines they expected in 2020, was enough to stop the stock market.
According to American media, investors saw the job numbers as something positive because it could pressure politicians to implement new financial crisis measures.
“The bad news about the weakened job market is potentially good news for investors because it means that a stimulus package is more likely to be in place in a fairly short period of time,” LPL Financial strategist Ryan Detrick told Reuters.
CNBC highlights the same point and refers to a Twitter message from Senate Minority Leader Chuck Schumer.
/nginx/o/2019/08/02/12427987t1h5004.jpg?resize=150%2C150&ssl=1)
