To borrow from “Star Wars,” the Force is strong with this stock market.
Despite a ho-hum earnings season and central banks’ disappointing hopes for aggressive economic stimulus this week, U.S. stocks held firm.
Sustaining momentum are valuations that make stocks attractively priced relative to other assets. To be sure, some corporate earnings have been impressive, especially in defensive stocks such as utilities.
The trigger for stocks’ surge was the Labor Department report that U.S. employers added 163,000 jobs to their payrolls in July, the most in five months. However, the unemployment rate, based on a different government survey, edged up to 8.3 percent.
Read More: Yahoo Finance News