- The Dow Jones Industrial Average added 40 points, or more than 0.1%, to finish around 26,425.
- The Nasdaq Composite added 0.6% to end around 7,939.
- The S&P 500 climbed around 0.5% to close near 2,893.
On nonfarm payrolls day, the Bureau of Labor Statistics said that the U.S. economy added 196,000 jobs in March which beat analysts’ expectations.
- “A good-enough jobs report will keep the Fed in watch-and-wait mode, as global growth concerns dominate Fed attention. Payroll growth rebounded while wage growth was soft and slack remained scarce. We expect the Fed to wait for data to cumulate before any possible change in tone,” analysts at TD Securities explained
Also, optimism on the trade front, follwoing the Xinhua News Agency’s news that reported that China President Xi Jinping had written to President Donald Trump calling for the U.S. to finish negotiations to end their trade dispute soon helped to spurr the bulls along.
DJIA levels
The index has psiked higher while trading above the 22nd Feb highs, (holding through the psychological 26000 level) taking on a fresh high and eyes stay on the 2018 top. Bears will otherwise target all the way down to the 23.6% Fibo retracement of the late Dec swing lows to fresh swing highs at the low end of the twenty-five hundreds, just above the 200-DMA at 25206. This area guards a break all the way down to 24800 gap area ahead of the 24500s (38.2% Fibo of same range).
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