KPMG chief economist Constance Hunter, Veritas Financial managing partner Greg Branch and Kingsview Wealth Management CIO Scott Martin add their insights on the latest jobs report and today’s markets.
The Fourth of July fell on Sunday this year, so various U.S. markets are observing the holiday Monday.
Equity markets will be closed, but there will be trading in the futures markets — including stocks, oil and gold — until 1 p.m. ET. Trading in futures will resume normally at 6 p.m.
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The bond market will be closed Monday so there will be no trading in U.S. Treasuries.
There will be trading in global markets.
Markets in London, France and Germany will be open for trading.
Trading will also take place in Asia: China, Japan, South Korea and Hong Kong will be active.
STOCKS SURGE TO RECORDS AS JOB GROWTH PICKS UP
U.S. equity markets rallied into the record books Friday following the better-than-expected June jobs report ahead of the holiday weekend.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34786.35 | +152.82 | +0.44% |
| SP500 | S&P 500 | 4352.34 | +32.40 | +0.75% |
| I:COMP | NASDAQ COMPOSITE INDEX | 14639.325014 | +116.95 | +0.81% |
The Dow Jones Industrial Average climbed 154 points, or 0.45%, while the S&P 500 and the Nasdaq rose 0.75% and 0.81%, respectively. All three indexes closed at all-time highs.
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Non-farm payrolls increased by 850,000 workers in June as the unemployment rate ticked up to 5.9%, the Labor Department said Friday. Analysts surveyed by Refintiv were expecting the addition of 700,000. The nation’s unemployment rate to fall to 5.7%. May’s reading was revised higher by 24,000 jobs to 583,000.
