Positive Payroll Data Hints U.S. Hiring Acceleration – Market Update

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Today, payroll data came in even more positive than expected, leading economists to believe that the U.S. may experience a hiring acceleration.  Also, the unemployment rate unexpectedly dropped from 8.6 percent to 8.5 percent which will likely push Treasuries downward.

What’s Up On Wall Street?

Yesterday was a slow day for financial news aside from the drop in value of the Canadian dollar and European stocks falling.  The Dow Jones Industrial Average closed down 2.72 points (0.02 percent).  The S&P 500 closed up 3.76 points (0.29 percent).  The Nasdaq Composite experienced the largest gains as it closed up 21.50 points (0.81 percent).

Jonathan Slappey is a writer for Quicken Loans, a company whose clients believe it’s Engineered to Amaze.  Interested in being Amazed by us? Read trusted reviews at our review site.