Dow Jones Today: 'Amazing' Jobs Report
The Nasdaq composite gained 1.9% Friday morning. The S&P 500 moved up 2.6%, while the Dow Jones industrials advanced 3.2%.
Ahead of the stock market open Thursday, the Labor Department said employment rose by 2.5 million in May and the jobless rate declined to 13.3%. The report was much better than economists had feared. Wall Street expected a loss of 7.7 million jobs and a 19.8% unemployment rate. The May jobs gain was the biggest one-month rise since at least 1939.
The strong jobs report prompted President Trump to tweet, "This is an AMAZING JOBS REPORT!.." President Trump also called a news conference at 10 am ET, tweeting, "I will be doing a News Conference at 10:00 A.M. on the Jobs Numbers! White House."
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