Stocks Soared On Friday, Unemployment At 50-Year Low

Plus New Zacks Strong Buys for Monday, October 7 Profit from the Pros Stocks Soared On Friday, Unemployment At 50-Year Low Stocks soared on Friday. While the Dow and the S&P were still down for the week (Nasdaq was up), the major indexes remain within striking distance of their all-time highs. Friday's Employment Situation report reaffirmed the strength of our economy. Nonfarm payrolls were up by 136,000 in September (114,000 in the private sector and 22,000 in the public), vs. estimates for 145,000. While that was a bit lower than expected, it was a fine number. Traders also cheered the sharp upward revision to August which gained an additional 38,000 new jobs to 168,000. Additionally, the unemployment rate fell more than expected to 3.5%, putting it at a 50-year low. People referred to this report as a Goldilocks report (not too hot, and not too cold, but just right), in regard to how it might impact the Fed's decision on interest rates at the end of the month. The prevailing wisdom was that the solid report underscored the strength of the U.S. economy, but it didn't abrogate the concerns over slowing global growth. And for that reason, there's a growing belief that the Fed will indeed cuts rates again on October 30th. So not only do we have a strong economy, but another interest rate cut will only make it stronger. And that's bullish for stocks. With the jobs numbers out of the way, the focus this week will shift back to trade when the U.S. and China meet in DC on October 10th. While few are expecting a full-blown trade deal this week, there are plenty who believe a lessening of tensions or a 'trade truce' could be seen. But you never know, especially after President Trump, less than two weeks ago, said a trade deal with China "could happen sooner than you think." This could be an exciting weeks for stocks. With or without a trade deal, stocks look poised for an upside breakout regardless. But if/when we do finally get a trade deal, we could see an explosive rally. And not only would that benefit the U.S. and China, but also the entire world's economic outlook, and potentially usher in years of additional growth and prosperity. As I've been saying over and over, these are historic times for the economy and historic times for the market. So make sure you're taking full advantage of it. See you tomorrow, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Powerwash For Your Insides]( What if you could restore your gut health with one simple fix?According to one doctor in California there may be a way. In fact, he believes it's so powerful that it could be like a "power wash" for your insides. Dr. Gundry, who is a world-renowned heart surgeon, reveals the root cause of weight gain, food cravings, and low energy in a short video he released to the public. P.S. This video also reveals how you can transform your gut with this one simple thing. 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