Louis Navellier reviews the good jobs news in the US while looking to the Middle East and Southern Europe as sources of volatility.
"The S&P 500 rose 1.6% last week, with most of the increase coming Friday due to a reasonably healthy 195,000 net new jobs created in June. The overall tone of last week’s other economic indicators was also positive, but foreign news grabbed the headlines once again. Specifically, the leadership crisis in Egypt lifted crude oil prices higher, while the latest crisis in Europe (this time centered in Portugal) sent bond rates up sharply among the Mediterranean “PIGS” – i.e., Portugal, Italy, Greece, and Spain."