Here Are 4 Hot Things to Know About Stocks Right Now
- The U.S. added 223,000 jobs in May, higher than economists’ forecasts, and the unemployment rate dipped to 3.8% from 3.9% the previous month.
- Average hourly earnings in May rose to 2.7% on an annual basis from 2.6%.
- Donald Trump said in a tweet before the jobs numbers were released: “Looking forward to seeing the employment numbers at 8:30 this morning.” The White House defended Trump’s break with protocol.
- For the week the Dow fell 0.48%, the S&P 500 rose 0.49% and the Nasdaq jumped 1.62%.
Wall Street Overview
Stocks rose Friday, June 1, as Wall Street assessed a stronger-than-expected U.S. jobs report for May.
The Dow Jones Industrial Average closed up 219 points, or 0.90%, to 24,635. The S&P 500 gained 1.08% and the Nasdaq was up 1.51%.
The U.S. economy added 223,000 jobs in May, topping economists’ expectations that called for the creation of 190,000 new jobs. The unemployment rate dropped to 3.8% in May, an 18-year low, from 3.9% a month earlier. Hourly earnings year over year rose to 2.7% from 2.6% last month.