Market Recap 5/9/2021
How did major indexes fare?
- The DOW continues to smash records. It added 229 points, or 0.66%, to reach a new high of 34,778.
- The S&P rose 0.74% to 4,232.6.
- The NASDAQ gained 0.88% to 13,752.
Disappointing Jobs Report
With just 266,000 jobs created in April, significantly below the 1 million predicted, the employment report was incredibly disappointing. In April, the unemployment rate increased to 6.1 percent from 6%. Most experts expected unemployment to continue to decrease.
This is a huge disappointment, and it’s not just because of the season changes. All sectors and industries saw declines. From technical services to retail, as well as couriers and transportation, saw declines.