A Poignant Moment In Financial History Sparks Stocks
In case you missed it, the Federal Reserve made history recently.
It wasn’t shocking, jaw dropping, or even very obvious, and it, ironically, triggered the stock market’s 16th largest- one day gain ever, which made it hard to notice that the nation’s central bank had just exhibited a uniquely American act of transparency on January fourth that is likely to be recalled in financial history.
At 830 that morning, the Bureau of Labor Statistics in Washington released a stronger than expected jobs report.
With 312,000 new jobs estimated to have been created in the economy in December, fears of a recession receded and stock prices rallied but by 10:30 had given gave up much of their gains — when, suddenly, share prices surged again. Why?
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