Slower, but better than anticipated, that was how non-farm payroll numbers were received by investors in the last two trading days, allowing Wall Street to score some more record highs. After several economic data have raised the possibility of the world’s largest economy crashing, the US job sector remains robust and that is almost all to make the market confident that consumers will continue to support the economy, by extending that which is already the longest period of economic growth in US history.
The issue of trade war was also on the agenda on Monday and gave the Bulls some momentum, after Commerce Secretary Wilbur Ross said on Sunday that licenses for US companies to sell components to China’s Huawei could soon come out due to the progress of the negotiations with China. However, and once again, nothing concrete exists, that was one more promise, will it be fulfilled? History says it is unlikely, but for now investors don’t want to know about any bad news, if it can happen, they buy.
Photo by Kamil Kot.
