Switzer on Saturday

America: is there anything it can’t do?

Founder and Publisher of the Switzer Report
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Friday Close
Change
Change %
Week Change %
Dow Jones
28,015.06
337.27
1.22%
-0.13%
S&P 500
3,145.91
28.48
0.91%
0.16%
NASDAQ
8,656.53
85.83
1.00%
-0.10%
ASX 200
6,707.00
24.00
0.36%
-2.03%
Data for week commencing 02 December 2019

For professional stock market watchers, it was green on the screen overnight in the US, except for the VIX (which is a ‘positive’ reading for the fear index), indicating that stock players are getting less worried. And it was a ripper of a jobs report that has taken all US market indices higher. And I mean significantly higher, forcing all three indices into positive territory on Friday.

Driving this optimism was the November employment figure, with 266,000 new positions created when the consensus guess by economists was only 186,000! That was a big miss and you can see why Wall Street pounced on the result. Adding to the good vibes was the jobless rate, which dropped to 3.5%, which was the best level since 1969!