MONEY & MARKETS • STOCK MARKET & INVESTING
Last Friday morning, BLS reported the economy lost 23,000 jobs in July. Economists expected a gain of 83,000… they missed by over a hundred thousand. The stock market’s response? An all-time record high — the S&P’s best week since April, up 3.6% in five days. You know the playbook: weak labor market means the Fed probably won’t raise rates in September, and traders treated that news like a starting gun.
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Your 401(k) had its best week in four months because 23,000 Americans lost their jobs.
