Boy, that really caused some whiplash on the markets today.
When the jobs report was released the market futures dropped like a rock and when the markets opened, they reflected what the futures had indicated. However, at about 11:00am EDT, they moved back above yesterday's close and have now closed for the week with gains nearly one percent or better across the board. I guess someone finally figured out that good news is just that, GOOD NEWS! And while this will make it harder for the Fed to skip their next interest rate increase, I suspect that most people feel that that has already been taken into consideration by the markets and that further selling was uncalled-for, and in fact, this was a buying opportunity.
Anyway, this is good news for many people, although I'm sure that Trump and the Republicans will refuse to give any credit to Biden and his policies.
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