It’s another busy week ahead on the economic calendar. While stats will influence, central bank chatter in the week, and COVID-19 vaccine news will also infuence.
The stock market continued to move higher Friday, with the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) rising to record closes. Stocks tracked by the S&P Midcap 400 Index are up 74% over the past year.
The recovery of Americas job market hit a pause last month as many businesses from restaurants and hotels to factories and construction companies struggled to find enough workers to catch up with a rapidly strengthening economic rebound. Employers added just 266,000 jobs in April, sharply lower than in March and far fewer than economists had expected. With viral cases declining and states and localities easing restrictions, the recovery from the pandemic recession has been so fast that many businesses have been caught flatfooted in the face of surging consumer demand.