The Nasdaq advanced, after the disappointing economic data appeared to make a case for monetary policy to stay on hold and interest rates to stay low, supporting tech and growth stocks.
employers brought back just 266,000 jobs in April, whereas a gain of at least 1 million had been expected.
economy remained 8.2 million payrolls short of pre-pandemic levels, and both the unemployment rate and labor force participation are still off from their February 2020 levels.
Federal Reserve Chair Jerome Powell has suggested he would want to see a “string” of strong payroll gains totaling more than 1 million before the central bank considers adjusting its ultra-accommodative monetary policy posturing.
“The smaller rise in payrolls should at least assuage some concerns around the Fed policy outlook,” Seema Shah, Chief Strategist at Principal Global Investors, wrote in an email Friday morning.
Heading into the report, investors had been contemplating improvements in other economic data with both optimism about the post-pandemic rebound and trepidation over the implications for monetary policy, with persistently strong data likely to bolster the case for the Fed to ease up on policies that had supported the recovery as well as asset prices.
The information technology, communication services and consumer discretionary sectors led gains in the blue-chip index, outperforming as Treasury yields retreated.
“On a day like today, you’re seeing that pullback in the 10-year rate, you’re seeing that pullback in the U.S.
But I do think we’re going to see this short-term reaction where it’s a bounce-back between value and growth, defense and offense, and I think on a day like today you’re seeing more of that defense.
employers brought back just 266,000 jobs in April, sharply missing consensus economists’ expectations for a rise of 1 million, according to Bloomberg data.
In the goods-producing sector, manufacturing jobs unexpectedly dropped by 18,000 whereas a rise of 54,000 had been expected, marking the first net decline in these payrolls since January.
Meanwhile, leisure and hospitality jobs rose by 331,000, adding to a gain of 206,000 payrolls in March and 413,000 in February.
Lloyd Price, inducted into the Rock and Roll Hall of Fame in 1998, was among the last survivors of a post-World War II scene in New Orleans that anticipated the shifts in popular music and culture leading to the rise of rock in the mid-1950s.
Last week, Joe Biden announced a plan to get at least one dose of vaccine administered to 70% of the nation’s adult population by 4 July – a date also floated for a full-economic and social interaction re-opening of America.
Pforzheimer’s ideas include remaining publicly committed to Afghan security forces, retaining old and imposing new sanctions on the Taliban until they’re no longer a threat to Afghanistan’s stability, and refusing to recognize a Taliban government if it “denies basic human rights to its citizens.” She also argues the U.S.
And a page titled “Enough Is Enough!” in which he says he’s running for one simple reason: public safety.But then, there is a section, titled “The Girl in my Bathtub,” in which he has to explain the death of a woman at his mansion in 2013.“There shouldn’t have to be a section for this on anyone’s campaign site,” the candidate begins on the page, first reported by Raw Story, “but because some people will not let this go away, I must address it.”Pandemic ‘Chaos’ Led Wife to Kill Estranged Hubby’s New GF: DefensePeruto, who has spent 40 years in criminal defense law, has local name recognition for his record of representing high-profile defendants, including a slew of alleged mob bosses like Joey Merlino and Nicodemo Scarfo, and his dad, Chuck Peruto Sr.—whom Philadelphia Magazine described as “one of the most esteemed lawyers in Philadelphia history.”But in recent years, Peruto has become more notorious for another reason: In 2013, a woman named Julia Law was found dead in his mansion in Philadelphia’s Center City neighborhood.
The Wall Street Journal reported Saturday that investigators with the state attorney general’s office interviewed at least three Democratic county executives who say Larry Schwartz called to gauge their loyalty to the governor and whether they would urge him to resign.
Still, Tom Kloza, the global head of energy analysis for Oil Price Information Services, told the Journal that targeting the pipeline, which carries roughly 45 percent of the fuel consumed in the United States, is a “big deal” and “could really wreak havoc.” Mike Chapple, a cybersecurity expert at the University of Notre Dame and a former National Security Agency official, added that the pipeline shutdown “sends the message that core elements of our infrastructure continue to be vulnerable to cyberattack,” a threat Homeland Security Secretary Alejandro Mayorakas acknowledged as recently as Wednesday, the Journal notes.