Despite Disastrous Jobs Report, Stocks Surged 1.6% Friday

(Friday, May 8, 2020, 6 p.m. EST) The unemployment rate surged to 14.7% in April, the U.S. Bureau of Labor Statistics (BLS) said Friday, but the Standard & Poor's 500 stock index nonetheless soared 1.6% and 3.4% for the week.

Despite the disastrous BLS monthly report showing a loss of 21.5 million jobs since the coronavirus crisis began, the stock market is looking past the pandemic.

The Coronavirus bear market low of the Standard & Poor's 500 index, to date, was 2237.39 on March 23, 2020. Closing Friday at 2,929.80, the index is 26.8% off the low and 14.5% from the all-time closing high on February 19, 2020 of 3386.15.


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.

Nothing contained herein is to be considered a solicitation, research material, an investment recommendation, or advice of any kind, and it is subject to change without notice. It does not take into account your investment objectives, financial situation, or particular needs. Product suitability must be independently determined for each individual investor.

This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete, and is not intended to be used as a primary basis for investment decisions.

This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

2020

2019

2018

2017

2016

2015

Contact Us

Call Us: 301-770-9880

Email: info@burtwealth.com

Burt Wealth Advisors
6116 Executive Blvd. Suite 500
N. Bethesda, Maryland 20852

 

 

 

 

Get your free report!

Start Your Risk Questionnaire