Dow Jones Industrial Average jumps 301 points
The earned 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 US 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.