Hourly Earning Growth Excel and New Market Highs in the Weekly Market Update by Valeo Financial Advisors (January 7, 2017)
January 7, 2017    Disclosures    POSTED IN  InvestmentsEconomyMarkets

The December 2016 jobs report was released Friday, propelling domestic equity markets higher.  Nonfarm payrolls, a measure of job creation, was not as strong as November or what market expectations were while the unemployment rate matched what analysts expected at a slight increase from the prior month and still below the Federal Reserve target of 5.0%; the favorable catalyst to market rises was the hourly earnings growth rate that surpassed expectation and marks the highest rise since 2009.

The S&P 500 index closed at a new all time high over its previous on December 13 while the Dow Jones Industrial Average hit an intraday high of 19,999.63 just shy of 20,000.

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