S&P up 1.24%. Nasdaq up 1.07%
The US stocks are off their highs but remain up nicely on the day. The Goldilocks-ish employment report that might keep the Fed on the sideline longer but shows solid employment growth, is the catalyst.
The S&P is up 1.24% and the Nasdaq is up 1.09%. The S&P index had fallen to the 100 day MA at the lows on Wednesday before the rebound in trading yesterday and again today. For the year, the index is up around 2.73% with plenty of up and down volatility. The current price is nearer the highs (see chart above)
For the Nasdaq, the index has moved back above the 5000 level in trading today, but is just off that level currently. The index is further off the highs reached in April (vs the S&P), but is up 5.53% on the year (outpacing the S&P gains). The index fell below the 50 day MA earlier this week but stayed above the 100 day MA (at 4856.29 currently- the week low came in at 4888.17).
