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  • Yeah.

  • A powerful rally to end the week on Wall Street after a big three day slump unraveled investor confidence.

  • By the time the closing bell rang on Friday, the Dow surged 572 points, the S and P 500 jumped 73.

  • The NASDAQ rallied 196.

  • It's been a tough time for tech stocks.

  • Though the NASDAQ was down for the third straight week.

  • A hefty rebound in employment fueled hopes of better economic days ahead.

  • Employers added a much better than expected 379,000 new jobs in February.

  • The lion's share of the hiring came from restaurants and bars, which accounted for 75% of all the job gains.

  • In February, hiring was up across the board for entertainment, leisure and recreation industries, as well.

  • The unemployment rate dropped to 6.2%.

  • But even with February's hiring surge, the economy still has to recover 10.5 million jobs lost since the health crisis hit last year.

  • Nevertheless, investors should feel good about the economic outlook and the stock market, says Jerry Brockman, chief investment officer at First American Trust.

  • I think when you look, you know, to yeah, 23 quarters ahead at the rate where we're vaccinating folks by a million, two million, half a day.

  • We have 300 million folks in the US In 2 to 300 days, we will be able to vaccinate all the people in the US, and that is a game changer.

  • So when you look back between that and another 1.9 trillion or somewhere around there of additional stimulus that hits people's checking accounts, I think that creates a great setup.

  • Economic hopes also pushed interest rates higher.

  • The yield on the U.

  • S government benchmark 10 year note jumped to its highest in over a year.

  • Rising interest rates are likely to make it more costly for high growth companies like Tesla to do business.


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B1 hiring february economic nasdaq rebound jumped

Tech leads market rebound; hiring surges

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    林宜悉 posted on 2021/03/06
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