The markets blasted off to close out the week thanks to a strong, February jobs report. The employment report came in plus 313,000 jobs created. This sent the Nasdaq 100 to record highs, gaining 132 on the day. The Dow 30 added 439 and the S&P 500 gained 47 on the day. The Federal reserve economists commented that the jobs report came in just right to continue their rate hike plans. The Federal Reserve is on track to raise rates later in March and then two more times this year.
El Pollo Loco (LOCO ) shares saw an 8% gain today after news that the company beat Wall Street's expectations on earnings. The company saw an increase in growth and even announced a positive forecast going forward. Shares have been under pressure since last summer. Today the down trend has been challenged in the short term.
Mattel (MAT ) was lower by 7.5% today on news that Toys 'R' Us is making plans to officially close all of their operations. Shares of Mattel and Hasbro (HAS ) suffered losses today as the toy store was a key partner for these toy manufacturers for decades. Shares of both companies have suffered for some time now.
Lam Research (LRCX ) was yet another semiconductor name to blast off to new highs today. The stock soared 6% on the day breaking through all technical resistance and attracting more bulls to the space. This is one of the best weeks for the sector in almost a year.
Finally, Netflix (NFLX ) shares were higher on the day following news of a deal between the company and the former first family to produce shows. The Obamas are reported to be near a deal with the streaming company that could be huge for the future of Netflix.
