The market moved higher across the board as the May nonfarm payroll report said that all the jobs lost in the recession had now been recovered. Rockwell economist Peter Cardillo has been confident for months as the economy has been on a steady upward trend and this report supports that. He is not surprised to see oil commodities move higher as a result. He does not expect the Federal Reserve to move up its schedule to reduce asset buying, even though unemployment has dropped to 6.3%. He expects any big move from the Fed will take place in 2015 and the market has already priced that in.

More from Video

Investors Shouldn't Be Worried About Trump's Trade Tariffs: Ian Bremmer

Investors Shouldn't Be Worried About Trump's Trade Tariffs: Ian Bremmer

Abercrombie & Fitch CEO Reveals to TheStreet How She Is Turning Company Around

Abercrombie & Fitch CEO Reveals to TheStreet How She Is Turning Company Around

The Chart Professor: Worried About United Technologies Right Here

The Chart Professor: Worried About United Technologies Right Here

Veteran Foreign Affairs Expert Ian Bremmer Reveals How to Price Political Risk

Veteran Foreign Affairs Expert Ian Bremmer Reveals How to Price Political Risk

Jim Cramer: I've Liked Six Flags Entertainment Stock as an Income Producer

Jim Cramer: I've Liked Six Flags Entertainment Stock as an Income Producer