Sept 5th 2014 – Record finish for S&P 500

Market View:

Thankfully a cease fire has been agreed in the Ukraine, we can only hope it is for real and it lasts.

Other than that, which I believe the market had already priced in, I have little idea why it rallied so hard today…but, I am grateful for it!

I can only assume it is because traders feel that it is less likely that the Fed will dabble with interest rates with such a disappointing jobs number today.

Market News:

U.S. stocks erased losses and rose on Friday, with benchmark indexes extending gains into a fifth week, as investors detoured around a surprisingly disappointing jobs report.

The number of jobs created “was way under what they anticipated, but the unemployment rate countered that,” Stephen Carl, head equity trader at the Williams Capital Group, said of the Labour Department’s report, which had nonfarm payrolls adding just 142,000 jobs even as the jobless rate declined to 6.1 percent. Economists had expected payroll growth of 225,000 last month.

The argument could also be made that the disappointing August jobs tally calmed concerns about the Federal Reserve removing stimulus sooner rather than later.

The Fed is measuring the health of the jobs market as it tapers bond purchases and mulls the timing of interest-rate hikes.

Ukraine and pro-Russian separatists agreed to a truce after months of bloodshed as U.S. and European officials considered further sanctions against Russia for its part in the conflict.

News Sources:  CNN Money & CNBC