Third Big Win For The Bulls: Here's What You Need To Know


Photo: jamidwyer on flickr

The market surged on better-than-expected jobs data, capping a 5% rally from Tuesday lows.But first, the scoreboard:

Dow: +128
S&P 500: +14.4
NASDAQ: +33.7

And now, the top stories:

  • Asian stocks rose on the back of yesterday’s US rally. Then European markets surged when US jobs data hit.
  • The jobs report pushed futures up around 100 points at the open. Although 54K jobs were lost and unemployment increased to 9.6%, this was seen as a good report. Disappointing data from the ISM non-manufacturing index ate away half of early gains, but the rally trickled back by the close.
  • Goldman Sachs announced it was shutting down a key prop trading desk. Goldman actually rallied on this news, rising to 5.5% gains for the day.
  • Hurricane Earl fizzled out to a Category 1 storm, which means you’re clear to head for the beach.

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