The S&P 500 Had a Strong Positive Move Yesterday, Marking Another Record Close for the Index

U.S. stock futures are higher. The S&P 500 Index had a strong positive move yesterday, marking another record close for the index. S&P futures were trimming back some of the gains leading up to the release of the February jobs report before reversing into positive territory post-release. The report showed that the U.S. added 275,000 jobs, surpassing economist expectations of 198,000. The December and January payroll figures were downwardly revised by a combined total of 167,000 jobs. The unemployment rate ticked higher from 3.7% to 3.9%, while the labor force participation rate remained at 62.5%. Average hourly earnings, considered an important metric for inflation, increased at a slower pace than expected. Treasury yields are lower post-payrolls. In international markets, Asian markets finished broadly higher, and European markets are trading with mixed performance. Gold prices continue to advance, and Crude prices are lower. The U.S. Dollar Index is weakening in response to the jobs data.

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