Wall Street Rises Again Despite Weak Jobs Report

Nasdaq continues its push into record territory
By John Johnson,  Newser Staff
Posted Jan 8, 2021 3:05 PM CST
Wall Street Rises Again Despite Weak Jobs Report
In this photo provided by the New York Stock Exchange, a pair of traders work on the floor Friday, Jan. 8, 2021.   (Colin Ziemer/New York Stock Exchange via AP)

Wall Street had a seesaw session but ended the day in positive territory. The Dow rose 56 points to 31,097, the S&P 500 rose 20 points to 3,824, and the Nasdaq continued its strong push into record territory by rising 134 points to 13,201. All this comes on the heels of a jobs report showing that seven months of jobs growth had come to an end. Investors also were gauging the turmoil in DC and news about the pandemic, including the increasing likelihood of more relief payments, reports the Wall Street Journal.

“There are still close to 4 million people who have been long-term unemployed, which could threaten growth in the next couple of months," Megan Horneman of Verdence Capital Advisors tells the AP. "The market continues to slowly grind higher because (investors) are expecting additional stimulus when the new administration goes into effect later this month.”

(Read more stock market stories.)

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