The monthly labor market report was the highlight of the shortened holiday week, and investors responded positively to the optimistic data. In June, the U.S. economy added 195,000 jobs, easily beating the consensus estimate of 165,000. Revised data for April and May also confirms that the labor market has been improving for three straight months. While the unemployment rate remained unchanged at 7.6%, a Moody's Analytics report stated that the current rate of job growth should lower the unemployment rate by a half percentage point per year, meaning the economy might achieve the Fed's target rate of 6.5% by 2015.
Wednesday: EIA Petroleum Status Report, FOMC Minutes, Ben Bernanke Speaks 4:10 PM ET
Thursday: Jobless Claims, Import and Export Prices
Friday: Producer Price Index, Consumer Sentiment
Notes: All index returns exclude reinvested dividends, and the 5-year and 10-year returns are annualized. Sources: Yahoo! Finance and Treasury.gov. International performance is represented by the MSCI EAFE Index. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly.
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The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.
The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896.
The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies.
The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indexes from Europe, Australia and Southeast Asia.
The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.
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