Categories: U.S. Investing

Improved Jobs Report Ignites Broad Wall Street Rally

Improved Jobs Report Ignites Broad Wall Street Rally (Reuters)

The market’s rise snapped a five-day losing streak, with the strengthening job market shifting the focus of investors to growth rather than the fate of the Federal Reserve’s huge stimulus program. U.S. stocks rose today, with the Dow and the S&P 500 breaking five-day losing streaks on the strength of a jobs report that boosted investor confidence about an improving economy. The Dow Jones industrial average (^DJI) jumped 198.69 points, or 1.26 percent, to close at 16,020.20. The Standard & Poor’s 500 Index (^GSPC) climbed 20.06 points, or 1.12 percent, to end trading at 1,805.09, while the Nasdaq Composite Index (^IXIC) gained 29.36 points, or 0.73 percent, to end the day at 4,062.52.

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Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.