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Why Wall Street is in a rush to get workers back in the office
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Why Wall Street is in such a rush to get workers back to the office
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Wall Street: Employees, get back to the office
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Weak US job report results in volatile market PUBLISHED BY
A weak job report resulted in a record close on Friday for the US stocks. The US labor department’s monthly non-farm payrolls report revealed employers hired 266,000 new workers in April, far below the expected 1 million jobs that economists had expected.
The blue-chip S&P 500 closed at a record close pushed by the energy and real estate sectors; it went up by 0.7 percent to 4,232.60. The Nasdaq Composite index gained 0.9 percent.
For the week, the indices were up 1.2 percent and down 1.5 percent, respectively. US Treasury bonds initially rallied, with the yield on the 10-year note falling by a steep 0.07 percentage points to 1.497 percent in the moments after the data were released. Bond yields move inversely to prices. The dollar, as measured against a basket of currencies, fell by 0.8 percent.
by Tyler Durden
Saturday, May 08, 2021 - 10:54 AM
Just hours after we wrote an article titled ARKegos Looming on Thursday, which compared ARK Invest s Cathie Wood to Bill Hwang and started to ask some critical, pointed questions about how many times ARK can closely sheer the NASDAQ sheep from which it is making its living, the firm s matriarch appeared on CNBC late on Friday for
some urgent damage control an interview about the recent performance of her funds. Her flagship ARKK fund is now down about 31% off its 52 week and all time highs near $151 per share.
During Wood s CNBC interview on Friday, she admitted on national television what we had been reporting weeks ago: