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The U.S. stock market took a bit of a breather today after a frenetic four days of trading in which investors were taken on a rollercoaster ride. Absent from today’s session were the pronounced moves that we saw over the prior days of the week. That said, the modest buying following the two impressive advances was another encouraging for those long equities. Overall, advancing issues led decliners on both the New York Stock Exchange and the NASDAQ, as the Federal Reserve-induced rally showed some staying power.
The nation added 288,000 jobs in June, with non-farm payrolls strengthening much more than had been anticipated. The consensus expectation for the month had been for job growth of about 215,000.