It may take more than a much-weaker-than-expected April jobs report to kill the U.S. stock market rally, analysts said, though the popular reflation trade — bets that stocks more sensitive to the economic cycle will outperform their peers — saw a modest setback on Friday.
“The market is rallying as the disappointment leaves the door open for the Fed to keep financial conditions easy for longer and delays the tapering and rate-hiking conversations for the time being,” said Cliff Hodge, chief investment officer at Cornerstone Wealth.
Simply put, it’s a case of bad news on the economy translating into good news for stocks.
The U.S. economy created just 266,000 jobs in April, the Labor Department reported, far short of the consensus forecast for a rise of 1 million. The unemployment rate also rose to 6.1%
East Bay houses are selling for more than $1M over asking price
more proof that your dollars are losing value
When a house in Berkeley sold for more than $1 million over its list price in late March 2021, it was covered in media outlets across the Bay Area, including this one.
While the Berkeley sale was particularly sensational — it sold for double its list price and received 29 offers — these individual stories are becoming more common in today’s real estate market, according to recent data and anecdotes from real estate professionals.
And that’s especially true in the East Bay. “People are not surprised when a home goes $1 million over,” said Josh Dickinson, the founder of real estate agency Zip Code East Bay. “When my clients see a house for $1.9 million they’re almost conditioned to think it’ll go over $3 million in Piedmont or North Berkeley.”
Wisconsin Democrats posted a video on TikTok and Twitter on Friday celebrating the distribution of the latest U.S. government $1,400 stimulus check even as the latest federal jobs report disappointed many experts.
The state’s Democrats asked people to take a video of themselves doing the ”Stimmy Shimmy” celebrating the latest federal $1,400 stimulus checks going into their bank accounts.
The upbeat dance video, which included the hashtag ”AmericanRescuePlan” and a thank-you to ”@POTUS” (President Joe Biden), was published the same day as the latest Bureau of Labor Statistics jobs report, which showed little change in the number of unemployed …