The stock market today is in far better position now than it would have been
had it closed the week out after Thursdays session. According to the Labor
Departments recent data on jobs, 244.000 jobs were added in April. This news was
far better than expected and gave investors and market index composites a boost
to end the week. Even though the major indices ended the week in negative
territory overall, it could have been worse if not for the more positive close
values that posted on Friday. The S&P 500 closed the last trading session in the
United States higher by .38 percent or 5.10 at 1340.20. The Nasdaq closed the
session higher by .46 percent or 12.84 at 2827.56. The Dow Jones Industrial
Average closed the session higher by .43 percent or 54.57 at 12,638.74. The jobs
report was the big news of the day as it showed that the job recovery efforts
across our nation are moving forward and gaining strength. The 244,000 jobs that
were added in April was up by 43,000 over the last reading for the month of
March. Up to this point so far, over 750,000 jobs have been added since January.
Businesses added 268,000 jobs in April. This is another great sign for our
economic development as business job additions have not been as strong in over
two years. It was a great way to end the week on Wall Street but optimism is
paired with the pessimism over the major index composites still ending lower for
the week overall. The Dow Jones Industrial Average, Nasdaq and S&P 500 all ended
the week lower by at least 1 percent. Author: Frank Matto
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