Investors are hopeful heading into the holiday weekend as the markets appear to be set to continue on their most recent upward trend for the foreseeable future.
With the DOW gaining 0.1%, the NASDAQ up 0.21% and S&P rising 0.37%, as of midday on Friday, many traders are looking for more profitable opportunities to present themselves so they can continue to help their accounts grow.
Friday’s Good News!
Markets have been on an upward trend for days now, but this growth was only boosted even higher Friday morning as D.C. officials and President Biden himself touted the release of a better-than-expected June jobs report.
In regard to the positive jobs news released this Friday, President Biden praised his team’s hard work, crediting them for their economic agenda leading ot the strongest hiring gain in 10 months, and stating that he believes “our economy is on the move…” Adding that he believes we finally have “covid on the run.”
The U.S. Labor Department said in its Friday report that nonfarm payrolls increased 850,000 on the month which is well above the 700,000 that was predicted.
As is expected, President Biden continues to reaffirm his belief that this recent growth is a direct result of his American Rescue Plan.
On the subject, Biden said, “None of this happened by accident, it’s a direct result of the American Rescue Plan…” “People questioned whether or not we should do that, even though we didn’t have bipartisan support. Well, it worked.”
Whether or not you fully believe that the country’s economic turnaround is due mainly to Team Biden’s American Rescue Plan or an inevitable occurrence that was bound to happen after such a downturn in 2020, there’s no denying that the markets appear to be in full swing as we head into the July 4th weekend.
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