The Standard & Poor’s 500 stock had its best week in nearly a year, following a weaker than expected jobs report that suggested the Federal Reserve’s 19-month monetary tightening campaign is slowing growth enough to quell inflation but not so much as to cause a recession. It’s a Goldilocks economy, not too hot and not too cold.
With 6.5 million job seekers and 9.6 million job opening, the red-hot labor market has cooled but remains strong. The excess demand for labor means that more jobs will be filled in the weeks ahead and the economy is likely to keep growing as those new workers earn income and spend it.
The Standard & Poor’s 500 stock index closed Friday at 4358.34, up +0.94% from Thursday, and a gain of + 5.85% from a week ago. The index is up +94.79% from the March 23, 2020 bear market low and down -9.14% from its January 3, 2022, all-time high.
The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is a market-value weighted index with each stock's weight proportionate to its market value. Index returns do not include fees or expenses. Investing involves risk, including the loss of principal, and past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.