How Major US Stock Indexes Fared June 2
Stocks rushed higher after a strong report on the U.S. job market eased Wall Street’s worries about a possible recession.
The S&P 500 jumped 1.5 percent Friday, while the Dow soared 701 points. The rally brought the S&P 500 nearly 20 percent above a low hit in October. It’s on the edge of entering a new bull market.
The rally built after a report showed unexpectedly strong hiring last month. At the same time, increases for workers’ pay slowed. That could mean the economy remains strong enough to avoid a recession without adding too much upward pressure on inflation….
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