STTG Market Recap Mar 8, 2013
Posted on March 08, 2013 at 19:20 PM EST
A solid February employment report capped off a bountiful week for the bulls; the S&P 500 gained 0.45% and the NASDAQ 0.38% after an initial gap up open was sold to push the indexes back to flat in the morning. Bulls remain in complete control after the two week hiatus outside of the multi month ascending channel. For the week the S&P 500 added 2.17% and the NASDAQ 2.35%.Job creation broke out in February, with the economy creating a net 236,000 new jobs as the unemployment rate fell to 7.7%. Private job creation stood at a robust 246,000. Service industries led the gains with 73,000 new jobs, while construction added 48,000 and health care provided 32,000. Retail also added 24,000. Original post: STTG Market Recap Mar 8, 2013