Saturday 3 July 2021

S&P 500 hits record high after “goldilocks-type” jobs report

Markets were mostly higher on Friday.

The S&P 500 rose 0.8 percent to a record high, the STOXX Europe 600 rose 0.3 percent and the Nikkei 225 rose 0.3 percent. However, the Shanghai Composite plunged 2.0 percent.

A report in the US showing a gain of 850,000 jobs last month was greeted positively by analysts.

Aberdeen Standard Investments deputy chief economist James McCann called it “a strong report”.

Angelo Kourkafas, an investment strategist at Edward Jones, said that “it was one of these goldilocks-type of reports”, suggesting that it would not trigger an earlier Federal Reserve tightening.

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