After a tumultuous week of wild trading, the US stock market rejoiced in welcome news to end the week. Traders found reassurance with the strong performance of domestically listed stocks pushing the Dow Jones Industrial Average more than 150 points higher on Friday.
The US stock market welcomed home its traders with a substantial rebound that lifted the Dow up to its highest level in a month. Stocks followed their positive trend in the morning, following some negative losses from Thursday’s session. The NASDAQ and S&P 500 were both up to start the day as well, and the upward momentum kept going throughout the day.
The Dow added to its gains in the afternoon with a couple of stronger-than-expected reports from the US Bureau of Labor Statistics (BLS). Non-farm payrolls increased 1.8 million in July, while a steep upward revision for June non-farm payrolls was reported as well. This was the largest jobs gain since April and eased worries of a potential double dip recession, giving the markets plenty of positive news to digest.
In addition to the uplifting numbers from the BLS, the stock market had the added support from major earnings releases. Companies like Apple, Amazon, Microsoft, and Tesla all reported strong earnings to end the week. Overall, these releases spurred investors to make positive trades, causing even more gains to the various domestic indices.
The stock market seemed to rejoice in the end-of-week news, as the Dow continued to increase and ended the day up by over 150 points. After such a tumultuous week of trading that had investors on their toes, the US stock market welcomed traders home in a big way.
“Homecoming: Stock Market Booms On!
