EJH - Wall Street Breakfast: What Moved Markets

Listen on the go! A daily podcast of Wall Street Breakfast's Alpha Talks will be available this morning on Seeking Alpha, iTunes, Stitcher and Spotify. The stock market closed out the week higher, with the S&P (SP500) and Dow (DJI) ending at record highs as the strong jobs report buoyed reflation plays. Better-than-expected July payrolls and a bigger-than-anticipated drop in the jobless rate pushed rates sharply higher, with the 10-year Treasury yield jumping more than 8 basis points Friday to 1.3%. That’s 15 basis points higher than the low hit Monday as yields tumbled on concerns about the spread of the Delta variant. The payrolls gain also put pressure on metals, with gold futures settling with their worst daily drop since mid-June. For the week, the Nasdaq (COMP.IND) rose 1.1% to lead the major averages, despite a Friday decline. The S&P rose 0.9% and the Dow gained 0.8%. Job gains

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Wall Street Breakfast: What Moved Markets