Around 8:30 AM EST this morning came the good news from the Labor Department that the US added more jobs than expected. The news gave positive sentiment on the street into the trading day with the Nasdaq up 1.38%, the S&P up 1.18% and the Dow Jones up 1.17% as of noon.

As traders, one must definitely keep in mind the fact that the job report isn’t up to the minute and rather from a few days to a week or so before any recent events that might have caused fluctuations in the markets. Nevertheless, the unemployment rate did inch up to 9% but most economists agree that, with the recent positive sentiment, individuals who couldn’t find a job and were out of the labor force have returned. That means companies, who are hiring or will be hiring in the near future, have seen a strong increase in consumer demand for products and services. That demand means a more active economy and eventually a stronger quarter for the companies taking advantage of the growth.

So what does this news mean for your portfolio on the UpDown.com? What are your plans moving into the day and next week? Let us know on twitter and facebook! Happy trading!

-The UpDown Team

This entry was posted on Friday, May 6th, 2011 at 12:20 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.