Name: Tech leads market rebound; hiring surges
Uploaded: 2021-03-06T18:30:42.000Z
Duration: 2 min 3 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

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.

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.

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.

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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Tech leads market rebound; hiring surges

tough

straight

crisis

surge