I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

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Value Investing
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Saturday 7 June 2014

Dow, S&P 500 hit fresh records on jobs report



























NEW YORK: The Dow and the S&P 500 on Friday again powered to record highs after a Labor Department employment report showed solid jobs growth for May.

The Dow Jones Industrial Average jumped 88.17 points (0.52 per cent) to 16,924.28, notching its second record high in a row.

The S&P 500 gained 8.98 (0.46 per cent) at 1,949.44, its third straight record close.

The tech-rich Nasdaq Composite Index rose 25.17 (0.59 per cent) to 4,321.40.

The Labor Department reported that the US economy added a net 217,000 jobs in May, in line with expectations.

Economists called the report solid and noted that May was the fourth straight month the US economy added more than 200,000 jobs.

Mace Blicksilver, director of Marblehead Asset Management, said the jobs report boosted investor bullishness a day after the European Central Bank unveiled aggressive stimulus.

"You have the best of both worlds," he said. "You still have stimulus and you get to have a good labor report."

Car-rental company Hertz plummeted 9.1 per cent after announcing the company must restate financial results from 2011, 2012 and 2013 due to accounting errors.

Retailer Gap gained 2.1 per cent on news that May comparable store sales increased 1.0 per cent from the year-ago level.

Dow member General Electric rose 1.5 per cent after declaring a quarterly dividend of 22 cents per share.

Other larger moves came from Dow member Pfizer (-1.1 per cent), oil services company Schlumberger (+2.0 per cent) and automakers Ford Motor (+2.4 per cent) and General Motors (+1.6 per cent).

Bond prices fell. The yield on the 10-year US Treasury rose to 2.60 per cent from 2.58 per cent Thursday, while the 30-year increased to 3.44 per cent from 3.43 per cent.Bond prices and yields move inversely.

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