Jobs data leads to records

on Nov2
by | Comments Off on Jobs data leads to records |

Dow Jones Industrial Average jumps 301 points

The gained 301.13 points, or 1.11% to close at 27,347.36. The climbed 0.97% to 3,066.91. The advanced 1.13% to end the day at 8,386.40. A much better-than-expected jobs report propelled the S&P 500 and Nasdaq to record highs.

Big job gains even with General Motors strike

The U.S. economy added , easily topping a Dow Jones estimate of 75,000. The better-than-expected print came even as a General Motors workers strike shaved off more than 40,000 jobs last month. Investors interpreted the report as a sign the economy is not even close to falling into a recession. This, coupled with easy Federal Reserve monetary policy for the foreseeable future, could add fuel to the market’s record run.

Qorvo and US Steel surge on earnings

shares surged 20.23% after the chipmaker posted quarterly numbers that topped analyst expectations. The company also issued strong earnings and revenue guidance for the current quarter. also jumped 14.77% after the company posted a smaller-than-forecast quarterly loss.

What happens next?

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