U.S. stocks rise today as strong jobs report brought certainty and confidence into the market. Now that the U.S. job market is showing consistent strength, investors appear to be letting go of their earlier worry that the economy isn’t ready for the Fed to start weaning the U.S. off that stimulus.
Around 203,000 jobs were created in the month of November which surpassed the 180,000 estimate made by economists. Which caused the jobless rate to fall to 7% from 7.3%.
December consumer confidence rose more than expected to its highest level in five months. The index rose from 75.1 to 82.5. Which shows that there’s a degree of optimism on the state of the economy felt by the consumers.
All 10 sectors in the S&P 500 index rose. Industrial stocks were among the leading gainers after Friday’s report showed that manufacturers added 27,000 jobs, the most since March 2012.
The Fed has their big meeting coming up in December and it will interesting to watch as what Fed decides to do as they see the economy is expanding and straightening.