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Market Commentary 06-02-2023

June 02, 2023

I just wanted to give a quick update on a good day in the stock market.  The employment report today was just what the doctor ordered.  More jobs than expected were created but the unemployment rate increased and wages grew at a smaller rate.

This combined with the debt ceiling bill being passed took some of the worry out of markets.  Traders are calling the reports signs of a "Goldilocks" economy.  Not too hot and too cold. As such, the DJIA is up over 650 points as of this writing.  The S&P 500 as well as the NASDAQ are following suit.

Markets have been worried of both recession and inflation as well as earnings.  The reports over the last month have been generally good on all fronts.  So maybe a Summer rally is in store. 

Let's hope so!