The stock market (S&P 500 index) was up for the 9th consecutive trading session today. As ZeroHedge noted early this morning,
If the S&P 500 closes green today, it would mark the longest winning streak since November 2004.
Mission accomplished! The rise was fueled by an excellent jobs report: April payroll numbers were up, exceeding expectations. In addition,
- Unemployment rate steady
- Labor force grew
- More full-time jobs than part-time jobs created
- Native-born workers increased, immigrant workers fell
- Underemployment fell, plus fewer workers with multiple jobs
- Federal government workers down (4th month is a row)
The S&P 500 index has now erased all April losses. The index now stands above the level where the market closed on March 10. The index is up more than 12 percent from where it was 12 months ago.
The market now stands about 5 percent below the level on the last trading day before Trump’s inauguration. It stands at less than one-half of one percent below the level before Election Day 2024.
Not surprisingly, Trump’s popularity is holding steady, at 50/49, as reported by Rasmussen today.
Meanwhile, Democrats are fighting with each other over efforts to impeach Trump, again.
