Saturday, 7 August 2021

S&P 500 hits record high on “really, really good” job numbers

Markets were mostly higher on Friday.

The S&P 500 rose 0.2 percent to a record high and the Nikkei 225 rose 0.3 percent. The STOXX Europe 600 was flat.

US stocks were boosted by a report showing that the US economy added 943,000 jobs in July.

“I think this is really, really good numbers for the stock market,” said James Paulsen, chief investment strategist for The Leuthold Group.

“The backdrop for risk assets remains constructive,” Third Point hedge fund manager Dan Loeb wrote in a note.

China was one of the exceptions to the generally upbeat mood in stock markets as the Shanghai Composite fell 0.2 percent.

China on Friday reported 124 new COVID-19 cases, its highest daily count since the start of the latest outbreak.

That is dwarfed by the number of new cases in Japan, which hit a record high of 15,645 on Friday. The total since the pandemic began last year is now more than 1 million.

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