Stocks are set for a strong open when trading begins following the government’s much better-than-expected monthly jobs report. Futures were modestly higher before the report but soared immediately after.
The government said that the economy shed a mere 11,000 jobs. That was dramatically different from the expectations of 125,000 lost jobs. This marks the smallest decline since the start of the recession in December 2007, and strongly suggests the deterioration in the labor market is in the final stages. Additionally, the unemployment rate declined to 10% from 10.2% in the prior months, while economists expected it to remain the same. The employment report will bode well for the market.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
