BUSINESS/FINANCE NEWS
Setup News Ticker
   BUSINESS/FINANCE NEWS
Searching for 'Markets Stock'. (Return)

MarketWatch MarketPulseJun 05, 2020
Dow surges 900 points retakes 27,000 as May jobs report shows 'mind-blowing' 2.5 million increase in payrolls and unemployment falls
U.S. stock indexes surged higher on Friday, adding to already sharp gains in the morning after a report on employment in the U.S. showed an unexpected rise in jobs and the rate of unemployment fell rather than rose as had been feared. The report showed that 2.5 million jobs were added last month and the unemployment rate fell to 13.3% from 14.7% in April. Economists had predicted the official unemployment rate will climb to 19% in May, a MarketWatch survey showed. Friday's nonfarm-payroll also was expected to show that 7.25 million U.S. jobs were lost in May, after 20 million were lost in April due to the COVID-19 pandemic. "The US unemployment rate has shocked everyone because the number was much lower than the market expectation," wrote Naeem Aslam, chief market strategist at AvaTrade, in a note after the report was released. "Speculators were whispering for 20%. This a mind-blowing number and shows that the economy is improving," he wrote. The Dow Jones Industrial Average was 900 points, or 3.4%, higher at 27,178, those for the S&P 500 index climbed 2.7% at 3,196, while the Nasdaq Composite climbed 1.9%% at 9,795. The move for equities on Friday comes after the Dow ended 11.93 points, or less than 0.1%, higher on Thursday at 26,281.82. The fourth straight gain matches a similar streak of wins for the blue-chip index ended April 27, according to FactSet data. Meanwhile, the S&P 500 fell 10.52 points, or 0.3%, to close at 3,112.35 and the Nasdaq Composite Index finished 67.10 points, or 0.7%, lower to wrap up the session at 9,615.81, putting the index about 2.1% from its Feb.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



RELATED ARTICLES
Dow surges 700 points at open after data surprise shows U.S. economy adding 2.5 million jobs in May (MarketWatch MarketPulse)

Yahoo BusinessJun 05, 2020
Analyst who predicted market's 40% rally says these stocks will lead to all-time highs
After nailing the market's recovery, Fundstrat's Tom Lee is predicting hard hit stocks can carry the S&P 500 to new highs.


Yahoo BusinessJun 05, 2020
Airlines Surge Toward Best Week Ever, and Trump Needles Buffett
(Bloomberg) -- U.S. airline shares headed for a record weekly gain as investors bet that travel demand was poised to rebound.American Airlines Group Inc. and United Airlines Holdings Inc. climbed for a fifth straight day on signs that passengers were returning after the Covid-19 pandemic devastated demand. Friday's surge -- amid a broad rally on encouraging economic news -- was big enough to spur President Donald Trump to tease billionaire Warren Buffett for dumping airline shares."He's been right his whole life, but sometimes even somebody like Warren Buffett -- I have a lot of respect for him -- they make mistakes," Trump said in a White House news conference. He also touted a surprise gain in payroll jobs last month. "They should have kept airline stocks, because the airline stocks went through the roof today and others did too."American ignited the gains Thursday after boosting its July schedule and signaling that passengers were returning, while United also added flights. Airlines are still bracing for years of pain. But more robust summer schedules suggest that the worst has passed -- and that the rebound in demand has a chance of outpacing the dire expectations the industry was outlining as recently as last month.A Standard & Poor's index of the five biggest U.S. airlines jumped 5.7% at 2:39 p.m. in New York, putting it on pace for a 36% weekly gain. That would be the biggest in data going back to 1989. American led Friday's advance, climbing 12% to $18.73 while United rallied almost as much.

MarketWatch MarketPulseJun 05, 2020
Oil futures rally on signs of economic recovery and bets that OPEC will extend output cuts
Oil futures rallied Friday, buoyed by better-than-expected data on U.S. employment and expectations that the Organization of the Petroleum Exporting Countries and its allies will agree to extend current production cuts at a meeting Saturday. U.S. prices were up by more than 11% for the week. July West Texas Intermediate oil rose $2.14, or 5.7%, to settle at $39.55 a barrel on the New York Mercantile Exchange Friday. That was the highest front-month contract settlement since March 6, according to Dow Jones Market Data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



RELATED ARTICLES
2-year/10-year Treasury yield curve steepest since 2018 on recovery hopes (MarketWatch MarketPulse)

MarketWatch MarketPulseJun 05, 2020
American Airlines stock adds to its tally of records with a weekly gain of over 75%
Shares of American Airlines Group Inc. set two new records Friday, one for volume and another for weekly gains, as an upbeat outlook for travel demand continues to fuel investor sentiment. A shockingly upbeat May jobs report also helped support the notion that the worst of the COVID-19 crisis has passed. The stock jumped 11.2% to the highest close since March 2, a day after the stock rallied aone-day record of 41.1%. Trading volume was a massive 423.6 million shares, breaking Thursday one-day record total of 399.4 million shares. The stock has run up 77.1% this week, or more than double the previous record for a weekly gain of 35.3% for the week ended March 27, 2020. Friday's rally comes even after Raymond James analyst Savanthi Syth downgraded the air carrier to underperform from market perform, saying the debt-burdened carrier's shares were "priced to perfection." The stock has still shed 35.2% year to date, while the U.S. Global Jets ETF has slid 36.2% and the S&P 500 has slipped 1.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


TRENDING TAGS
jobsReport Dow unemployment surprise points
Coronaviruslive latest updates pandemic Americans
stocksJobs rally set Global Today
StockMarket Jobs rally record Today
TrumpFloyd coronavirus George CNN Former
COVID-19jobs crisis UPDATE safety study
Unemploymentrate jobs million report 133%
marketStock Jobs Dow Stocks live
millionjobs unemployment coronavirus falls economy
Dowpoints jobs report down Market

NEWS SOURCES
Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money
CNN/Money Real Estate News
Dismal.com: Analysis
Dismal.com: Indicators
Enterprise Application News
Entrepreneur.com
Forbes Headlines
Forbes Social Media News
FT.com - China, Economy & Trade
FT.com - Financial Markets
FT.com - Hedge Funds
FT.com - Telecoms
FT.com - US
Google Business News
Google Market News
HBS Working Knowledge
Inc.com
INSEAD Knowledge
International Tax Review
Kiplinger
Knowledge@Wharton
L.S. Starrett News
MarketWatch
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly
MSNBC.com: Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
OpinionJournal.com
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money
SEC.gov Updates: News Digest
SHRM HR News
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ US News
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • 617 482 1200
    617 299 8649 (fax)
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2020 CEOExpress Company LLC