Why Is The Bond Market Ignoring Weak US Jobs Report?
Hakyung Kim and Alex Harring of CNBC report Dow closes nearly 300 points higher to begin November as investors shake off weak jobs report: Stocks rallied Friday to kick off November as Amazon led big technology stocks into the green and traders looked past a disappointing jobs report. The Dow Jones Industrial Average gained 288.73 points, or 0.69%, ending at 42,052.19. The S&P 500 advanced 0.41% to close at 5,728.80, and the Nasdaq Composite rose 0.8% to 18,239.92. Amazon rallied 6.2% as strength in the cloud and advertising businesses propelled the e-commerce giant above Wall Street’s earnings expectations. Intel popped 7.8% after exceeding analysts’ forecasts for revenue and offering strong guidance. The two stocks helped lift investor sentiment following some notable earnings disappointments this week. Megacap tech stocks are still “the tail wagging the dog,” said Rob Williams, chief investment strategist at Sage Advisory. “You’re seeing some broadening, but it’s sti