The Dow Jones Industrial Average closed higher on Friday (August 6) at a record high. As investors responded to the disclosure of stronger-than-expected US non-farm payrolls. and overlook concerns about the spread of the COVID-19 virus Delta species that are affecting economic recovery
The Dow Jones Industrial Average closed at 35,208.51, up 144.26, or +0.41%, and the S&P500 closed at 4,436.52, up 7.42, or +0.17%, while the Nasdaq closed at 14,835.76, down 59.36, or -0.40%.
in the past week The Dow was up 0.78%, the S&P500 was up 0.94% and the Nasdaq was up 1.1%.
The US Department of Labor reports that Non-farm payrolls rose 943,000 in July. That was higher than analyst expectations of 845,000 jobs from 938,000 in June.
The unemployment rate fell to 5.4 percent in July, below analysts’ forecast of 5.7 percent after hitting 5.9 percent in June.
Other important economic data Those that were revealed on Friday include: The US Department of Commerce reports that Wholesale inventories rose 1.1% in June, month-over-month. After surging 1.3 percent in May, sales in the wholesale sector jumped 2.0 percent in June after a 0.8 percent gain in May, and business owners will spend 1.22 months in the process. Sold out of stock, down from 1.23 months in May.
Four of the 11 S&P500 indexes closed higher, with financial stocks gaining the most percentage points since July 20. while the technology group declined
In addition, strong earnings releases of US listed companies have also boosted the market. by american stocks International Group jumped 4.7 percent after it reported better-than-expected second-quarter profits on Thursday. And Cortiva shares jumped 8 percent after raising its net income forecast for the year.
Investors will focus on the Aug. 26-28 meeting of Fed leaders in Jackson Hole, Wyoming, to discuss monetary policy and formulate future stimulus strategies.
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