Daily Stock Market News Feb. 3, 2017: After the government reported that 227,000 jobs were created in January, the stock market resumed its rally this morning. The unemployment rate edged up, but only because more people felt encouraged enough to look for jobs. See more of today’s stock market news and closing prices.
U.S. Stock Market Closing Prices Feb. 3, 2017:
Dow Jones Industrial Averages: 20,071.46 +186.55 (+0.94 percent)
S & P 500: 2,297.42 +16.57 (+0.73 percent)
NASDAQ: 5,666.77 +30.57 (+0.54 percent)
Crude Oil: $53.85 barrel
Today’s Stock Market and Economic News:
The stock market rose this morning as a result of employment news which shows that Obama handed off a robust and growing economy to Trump. The unemployment rate edged up to 4.8 percent because more workers got off the sidelines and began looking for jobs again.
Below are details showing how the jobs report broke down.
In addition to a strong jobs report, U.S. factory orders also rose in December.
There is concern about the effect it could have on our economy if NAFTA is canceled. Many US jobs are dependent on trade with Mexico.
(This will be the last Daily Stock Market Report for a few months.)
The Economic Record under the Past Few Presidents:
Median monthly jobs added
Obama: 186,000 a month
Bush: 61,000 a month
Clinton: 252,000 a month
Median yearly net wage growth
Obama: 2.2 percent
Bush: 3.3 percent
Clinton: 3.5 percent
Average of compound annual growth rate for S&P 500 Total Returns
Last Year’s Stock Market and Economic Highlights for 2016:
If you wish to compare 2017 to 2016, here are a few of the most notable events in the stock market and the economy last year:
The Dow Jones Industrial Average rose 13.4 percent during 2016.
The S&P 500 climbed over 9 percent in 2016.
The Nasdaq was up over 7 percent during the year.
Average hourly wages were up over 2.4 percent during the year.
Unemployment dropped to 4.7 percent by the end of 2016.
Over 2 million new jobs were added to the economy during the 2016 (11.3 million jobs created during the Obama administration, with job growth for a record 75 straight months).
In 2016, auto sales hit a new record high of 17.5 million.
Twitter.com / MSN Money / Market Watch / YahooFinance / Bloomberg / Reuters / Wall Street Journal and other public news sources
Statistics on the past three presidential administrations: marketwatch.com/story/the-trump-scoreboard-track-the-markets-and-economy-under-trump-in-one-graphic-2017-01-20?link=sfmw_tw
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