Summary
Wall Street drove ahead last week on recovery expectations despite a disappointing jobs report for December. As the trading session ended Friday, traders shrugged off a Labor Department report that showed a loss of 85,000 jobs, though analysts had expected a loss of only 8,000 jobs, turning from a gain in November. However, the downturn in jobs renewed a hope that the Fed may keep interest rates unchanged for a little while longer.
"I don't think that we should expect that we're going to go up in a straight line," said Linda Duessel, market strategist at Federated Investors in Pittsburgh. "Last month of course was revised up. This one will probably get revised at least in a more positive direction." Added to the mix, shipper United Parcel Service upped its fourth-quarter outlook, stimulating a more positive direction in stocks. Historically, a good first week presages a stronger year in the markets.See the full content of this document
Extract
Markets Climb Despite Job Losses
The Journal Record Index had an even more boisterous week, adding 51.36 points, or 5.37 percent, and clo...
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