Stock Market Roundup, March 9: Jobs Report Sends Stocks Higher
A better-than-expected jobs report confirmed the health of the economy and cooled concerns about rising inflation on Friday. Meanwhile, President Trump followed through on his proposed metal tariffs, although the final version of the plan may see exemptions for Mexico and Canada. Regardless, investors were in a good mood throughout the day, and all three major indexes closed more than 1.5% higher.
Zacks Rank #1 (Strong Buy) Top Movers
Value: Interserve ISVJY - +12.1%
Momentum: China National Materials CASDY - +8.5%
Income: Medifast MED - +5.4%
Dow: 25,335.81 / +440.6 / +1.8%
Nasdaq: 7,560.81 / +132.86 / +1.8%
S&P 500: 2,786.56 / +47.59 / +1.7%
A blowout 313K new jobs were created in the month of February, more than 100,000 - roughly +50% - higher than expected.
The traditional earnings season is effectively over, but a few marquee reports-especially in the retail sector-remain to be released. Make sure to keep an eye on these companies as they prepare to report during the week of March 12!
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