This just in: CEO Chris Shuba in Financial Planning

March jobs report blew through estimates with 916K new jobs being added to nonfarm payrolls, helping lower the unemployment rate to 6%. Estimates were for a 660K gain and nearly doubles the 468K gain in February, which was also revised upwards. Underlying the report the gains were fairly broad with 280K gain in leisure and hospitality and a 110K gain in construction payrolls. The figures put a welcome dent in the jobs shortfall in the U.S. economy since February 2020, which now stands at 8.4M. With equity markets closed for the holiday, futures advanced on the news and 10-Year Treasury yield ticked up slightly.

The S&P closed above 4,000 for the first time on Thursday, ending the week at 4,019.87. The push higher was aided by technology and energy stocks.

The ISM Manufacturing survey rose to 64.7, up from 60.8, advancing further into expansionary territory and marking the highest level of the index in more than 37 years.

President Biden unveiled his administration’s $2T infrastructure plan in a speech on Wednesday. The plan calls for significant investment in physical infrastructure and proposes raising the corporate tax rate to fund the programs, and sets the stage for what will likely be a series long and arduous negotiations in D.C.