Today, US stocks have opened at a higher price, triggered by an unexpectedly good jobs report. The report from last month led to anxiety and fear in the market. However, the report today has eased investors' worries, offering further evidence that the economy has moved in the right direction.
Over the days of June, roughly 287,000 jobs were generated in America, exceeding economists' predictions of 175,000 jobs. Nonetheless, the rate of joblessness increased slightly to 4.9 percent, whereas economists predicted it would increase to 4.8 percent. The shooting in Dallas has had an effect on numerous stocks as well, a phenomena we will address below.
This morning, gun stocks are soaring in the aftermath of the shootings in Dallas. This incident saw five Dallas policemen lose their lives and seven more injured by sniper attacks, during a protest against racially motivated violence by law enforcement. Smith & Wesson Holding Corp shares (NASDAQ:SWHC) opened five percent higher today, whereas Sturm, Ruger and Co (NYSE:RGR) stocks were in profit by four percent. Investors reacted in the usual way to this news, as gun stocks frequently rise after shooting incidents. These incidents are regarded as a precursor to more demand for weapons, from people buying ammo and guns to protect themselves. Also, current gun owners often want to add to their collection, just in case gun control laws are introduced.
Gun stocks shoot upward after Orlando shooting, as investors anticipate spike in sales ahead of p...