US EditionStocks and Dollar Climb on Reassuring US Jobs Data
- The S&P 500 and Dow index climbed to their highest levels in more than three months on Friday, driven by gains in technology stocks and a recovery in Tesla shares.
- The gains followed a better-than-expected May jobs report showing 139,000 new jobs and steady unemployment at 4.2%, easing economic concerns.
- Even with the market rally, investors pulled a total of $7.42 billion out of U.S. stock funds for the third straight week, while directing $2.72 billion and $1.84 billion into European and Asian funds, respectively.
- Gold prices corrected from Thursday’s peak of $3,400 per ounce to $3,317 by Friday, while inflation remains subdued with April’s year-on-year figure at-0.1%.
- The Federal Reserve faces possible delayed interest rate cuts as price pressures may increase in July and August, according to the Beige Book’s business expectations.
78 Articles
78 Articles
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