Stock markets roar, Dow jumps 300 following jobs report

[DonViejo]

Source: The Hill


BY NIV ELIS - 04/05/21 09:47 AM EDT

Stock markets opened to new record highs Monday morning, jumping in the aftermath of a blowout jobs report on Friday.

The Dow Jones Industrial Average opened up 300 points, or 0.9 percent, and the S&P 500 opened up 35 points, or 0.9 percent.

The reaction from stocks came after a Friday jobs report from Labor Department showing a 916,000 upswing in jobs in March, more than a third higher than economists expected.

Markets were closed for trading to observe Good Friday, delaying the jump in stocks.

Read more: https://thehill.com/policy/finance/546436-stock-markets-roar-dow-jumps-300-following-jobs-report

[PoindexterOglethorpe]

1. More like up 450 points

right now.

[RKP5637]

2. But but but ... Donald Dump said everything would crash if he were not reelected. n/t

[OldCicero]

3. Happy days are here again!

Large numbers of hires in the service and hospitality industry.
Delta canceling 100 flights until pilots are recalled and retrained but meantime selling middle seats again.

The pandemic is OVER folks!

Get back to work, shop, party, and travel!

Until you drop.

Literally.

[littlemissmartypants]

11. Did you forget the sarcasm thingy?

You'll find it under the extended smilies button. It looks like this...


BTW, welcome to DU.

[apnu]

4. I wonder what Donnie Small-hands thinks of that.

Didn't he predict market Armageddon because Biden breathes and is in the White House?

[George II]

7. It's been nothing but new records since January 20.

[IronLionZion]

5. Biden is killing millions of jobs and destroying the economy

if you listen to how RWers tell it online. COVID relief checks supposedly discourage people from working. And the infrastructure plan will kill so many jobs because of the tax raises.

[George II]

6. Thanks President Biden. Hope for the future even affects the stock market. We don't see junior....

....or Eric bragging about stock market records anymore, do we?

[George II]

8. For the record, here are the numbers since Biden too office:

November 6 - 28,323 with the good news Biden won.
January 20 - 31,188 when Biden took office
April 5 - 33, 536 as of 1PM today

That's an increase of more than 5,000 or about 17%.

The stock market isn't an accurate indicator of the actual state of the economy, but it's an indicator of the optimism for the future of Americans.

[bucolic_frolic]

9. Helicopter money is permanent, until inflation

The Fed is watching aggregate payrolls, not inflation or money supply. They don't care how big the asset bubble. But the fallout will be widely distributed.

[IronLionZion]

10. The lowest earning Americans got screwed hardest during the pandemic

and are the reason the Fed isn't worried about inflation. If/when we see significant inflation the Fed will raise rates to control it.