Dow jumps more than 700 points, propelled by Powell’s comments and a blowout jobs report

Great news for families!

Released on Friday was a great jobs report.

The Dow Jones closed up 745 points on Friday after the monthly jobs report showed 315,000 new jobs when only 176,000 were expected.

If you are the head of a family and have worried about getting a job or getting pay increases to keep up, it looks as if we have turned the corner to a great looking economy.

Stocks took off after Federal Reserve Chairman Jerome Powell hinted the central bank could pause its rate hikes, something this beaten-down market was waiting for.

“As always, there is no preset path for policy,” Powell said. “And particularly with muted inflation readings that we’ve seen coming in, we will be patient as we watch to see how the economy evolves.”

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