After The Bell: Stocks Surge On Strong Jobs Report

Andy Giersher
May 03, 2019 - 5:32 pm

CHICAGO (WBBM NEWSRADIO) -- Stocks surged higher Friday, recovering most of the losses earlier in the week, after a surprisingly strong April jobs report brought out the bulls in force.

The S&P 500, posting its biggest gain in over a month, added 28, the NASDAQ rose 127 and the Dow Jones Industrial Average closed up nearly 200 points, settling to 26,504.

"It was good, I think the market continues to look for these data points to indicate the continued vibrancy of the US economy, and they certainly got one of those today," Chuck Carlson, CEO of Horizon Investment Services, said.  "It's a really nice backdrop for stocks when you have pretty strong economic growth and interest rates stable to trending lower, that's a pretty powerful combination and we saw what that can do in today's trading."

Carlson also noted that markets are going to need border leadership, including strength in the lagging financials, transports and small caps, before launching itself into another rally mode.