Stocks Surge 1.7% Friday As Tariff Fears Subside And New Jobs Surge

The Trump administration's tough talk on tariffs softened last week, and government reports on Friday showed job growth was booming in February while real-wages roared, capping a good week for the Standard & Poor's 500 with 1.7% surge on Friday that left stocks just 4% from their all-time high.

313,000 new jobs were added to the economy last month, when only about 200,000 were expected. In addition, the official unemployment rate stayed at 4.1%. That's the same it has been since October 2017, and the lowest it's been since December 2001, which capped the end of the longest expansion in post-War U.S. history, the boom of the 1990s.

Meanwhile, purchasing managers at large non-manufacturing companies - 86% of U.S. gross domestic product - continued to say they're experiencing near-record high levels of activity. The 59.5% reading in February for months has hovered at highs rarely reached.

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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