Here's why investors are shrugging off the lousy jobs report
CNN
The August jobs report was a massive disappointment, with Corporate America hiring far fewer people than expected. But investors largely shrugged off the weaker jobs gains.
Stocks were mostly unchanged Friday and remained near all-time highs. The S&P 500 was flat while the Nasdaq rose slightly. Both held onto gains for the week. The Dow fell nearly 75 points, or 0.2%, and was down modestly over the past five days. (The US stock market will be closed Monday for Labor Day.) Investors may have taken heart that the unemployment rate fell to 5.2%, despite the slowdown in new jobs. That's a sign that the labor market recovery is still on track following the Covid-fueled shutdown of the economy and brief recession last year.More Related News
Millions of Americans have taken to the skies, hit the road, fired up the barbecue grill and jumped into the pool this weekend to celebrate the start of summer 2024. Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities.