Jobs Number Pleases Market


How about that? The consensus estimates for the non-farm payroll number were just about on target this time – 217,000 new jobs were created in May. The unemployment rate came in at 6.3%. The fact is, we continue to add jobs, perhaps not at the pace that we would like, but slow and steady job growth is better than none at all. Stocks reacted positively to the report and the bulls kept the averages in positive territory for the entire trading session.

By the close, the Dow Jones Industrial Average was up 87 points to finish the day at 16,923. The S&P 500 was up 8 points to close at 1949. Gold was mostly unchanged to trade at $1253 per ounce, while oil was up $.29 to trade at $102.77 per barrel WTI.

Well, that’s enough of my drivel. Today marks the 70th anniversary of D-Day. Enough said. We’ve enclosed Ronald Reagan’s speech 30 years ago today. Enjoy and have a great weekend everyone.

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