Traders seemed to like the prospects of low unemployment last week even though that could lead to the end of easy money from the Fed, a prospect that caused a sell-off just weeks ago. Last week’s price gains could be reversed soon as additional economic data and company earnings are released. Stocks Change Their Mind and… Read More
Traders seemed to like the prospects of low unemployment last week even though that could lead to the end of easy money from the Fed, a prospect that caused a sell-off just weeks ago. Last week’s price gains could be reversed soon as additional economic data and company earnings are released. Stocks Change Their Mind and Gain on News Showing Fed May Taper Soon On Friday, the employment report provided good news about the state of the economy and stocks rallied. SPDR S&P 500 (NYSE: SPY) gained 1.08% for the day and 1.62% in a three-and-a-half day, holiday-shortened trading week.#-ad_banner-# Unemployment was unchanged at 7.6%, but the details in the jobs report showed some strength in the economy. The economy added 195,000 jobs in June, and estimates for gains in both May and April were… Read More