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Wall Street Journal US BusinessJun 04, 2020
Unemployment-Claims Report Signals Pace of Coronavirus Job Losses
The number of workers applying for and receiving unemployment benefits was historically high but eased at the end of May, indicating the U.S. labor market has weathered the worst of the economic fallout from the coronavirus pandemic.

MarketWatch MarketPulseJun 04, 2020
Dow ekes out 4th straight daily gain ahead of May jobs report
Stocks ended mostly lower Thursday, though the Dow Jones Industrial Average eked out a tiny gain to extend its win streak to four sessions. The S&P 500 and Nasdaq Composite, meanwhile snapped a four-day run of gains. Equities had rallied strongly this week, boosted by signs the economic contraction caused by the COVID-19 lockdown was beginning to ease. The Dow ended the day up around 12 points, or less than 0.1%, near 26,282, while the S&P 500 gave up around 11 points, or 0.3%, to close near 3,112, according to preliminary figures. The Nasdaq gave up 67 points, or 0.7%, to finish at 9,615. Earlier, the Nasdaq 100 touched an all-time intraday high. It ended the day down 75 points, or 0.8%. Another 1.9 million U.S. workers applied for first-time unemployment benefits in the week ended May 30, the Labor Department reported Thursday, slightly higher than the 1.8 million consensus among economists polled by MarketWatch. The data suggest that the economy may have seen the worst of the impact of the epidemic. The May jobs report due Friday morning is expected to show the U.S. economy shed another 7.25 million jobs last month.

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.


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