Stocks Closed At A Record, Ignoring A Bad Jobs Report

Published Friday, May 7, 2021 at: 6:31 PM EDT

With every other key economic fundamental indicator going strong, the stock market discounted the importance of this morning’s sorely disappointing jobs report, figuring it must be a statistical anomaly.  Like a driver ignoring the “check engine” light because they know it is caused by an electrical problem in the dashboard, stock market investors ignored the bad jobs report. The stock market surged seven-tenths of 1% on Friday and closed at a new record high, despite a much weaker than expected jobs report. Stock market investors brushed aside fears that the sorely disappointing jobs report was a sign that the economy is not...

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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.

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