S&P 500 Ending The Week At Another Record

U.S. stocks staged a mixed finish to the week, with the S&P 500 ending at another record, as investors tracked the standoff in Ukraine and after February’s jobs report indicated the harsh winter could be the culprit behind recent weakness in economic data.

Recent developments on Ukraine had Russian President Vladimir Putin dismissing a warning from President Barack Obama over Russia’s move into Crimea, with Putin saying he could not overlook calls for help from Russian speakers in Ukraine.

Figures from the Labour Department had the economy adding 175,000 jobs last month, following an upwardly revised 129,000 increase in January. The unemployment rate unexpectedly rose to 6.7 percent.

European markets and Asian markets finished the day mostly lower. But Japan’s Nikkei closed with a gain of about 1%.

News Sources:  CNBC and CNN Money

Market Update:

The jobs number was better than expected, however, not strong enough to fuel a rally that has other things on its mind.  Politics dominated the news in the market this week with the stand-off in the Ukraine still ongoing..

I am not surprised that we saw the market lose some steam today.  Technically we could be topping out after an amazing run, but nothing is certain till it happens.  And even if it tops out and goes lower for a few days, the Bulls are still in control of this market.