{"id":117622,"date":"2021-07-02T17:09:16","date_gmt":"2021-07-02T17:09:16","guid":{"rendered":"https:\/\/fin2me.com\/?p=117622"},"modified":"2021-07-02T17:09:16","modified_gmt":"2021-07-02T17:09:16","slug":"the-us-economy-added-850000-jobs-in-june","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/the-us-economy-added-850000-jobs-in-june\/","title":{"rendered":"The US economy added 850,000 jobs in June"},"content":{"rendered":"<p><cite>New York (CNN Business)<\/cite>It&#8217;s lucky sevens for investors: The blue-chip S&amp;P 500 index is on track to end at a record high for the seventh straight day following the strong jobs report. <\/p>\n<p>The last time the S&amp;P 500 had this long a streak of all-time high closes was in June 1997, when the index surged to eight straight records, according to S&amp;P Dow Jones Indices senior index analyst Howard Silverblatt.<br \/>\nStocks have enjoyed a superb first half of 2021, as investors are excited about the reopening of the economy thanks to Covid-19 vaccines. Corporate profits are booming as a result.<\/p>\n<ul><\/ul>\n<p>If Friday&#8217;s gains hold, the index will have a chance to match the June 1997 streak on Tuesday. (The US stock market is closed Monday in observance of Independence Day.)<\/p>\n<ul><\/ul>\n<p>The S&amp;P 500 was up about 0.5% in midday trading Friday. The Nasdaq was up 0.5%, too, and also hit another new record in the process. The Dow rose about 0.3% Friday but remains a bit below its all-time high. All three major market indexes are up about 1% this week.<\/p>\n<p><noscript><img decoding=\"async\" alt=\"Signs the 2020 recession may already be over\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210520103040-macys-store-nyc-0502-restricted-large-169.jpg\"><\/noscript><br \/>\nEven though the market is starting to look a bit frothy to some investors, several experts are confident that the record-setting run still has legs. That&#8217;s because the economy may be in that proverbial Goldilocks period of being not too hot or too cold.<br \/>\n&#8220;The jobs report had something for everyone,&#8221; said Michael Arone, chief investment strategist with State Street Global Advisors. &#8220;The payrolls number was above forecasts but wage increases were modest. So for those concerned about a significant pickup in inflation, this report didn&#8217;t signal that.&#8221;<br \/>\nArone added that it was encouraging to see jobs gains in sectors hit hard by the pandemic, such as leisure and hospitality, retail and education.<br \/>\nHe also noted that as the economy continues to improve, corporate earnings should keep rising. That means stocks, while not exactly cheap, aren&#8217;t prohibitively expensive just yet.<br \/>\n&#8220;This market is being driven by earnings and they are rising faster than expected,&#8221; Arone said.<br \/>\nAnd as long as sales and profits keep climbing, there is little reason to expect stocks to experience a major pullback anytime soon.<\/p>\n<ul><\/ul>\n<p>&#8220;We are at only the beginning of the nascent stages of the next big economic rebound and bull market,&#8221; said Michael Reynolds, vice president of investment strategy at Glenmede.<br \/>\n&#8220;That doesn&#8217;t mean there will be no hiccups or market corrections along the way,&#8221; he added. &#8220;But this is so different than a typical post-recession environment. There is still so much consumer demand.&#8221;<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/07\/02\/investing\/stock-market-today-sp500-record\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNN Business)It&#8217;s lucky sevens for investors: The blue-chip S&amp;P 500 index is on track to end at a record high for the seventh [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":117621,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The US economy added 850,000 jobs in June - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/the-us-economy-added-850000-jobs-in-june\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The US economy added 850,000 jobs in June - 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