Dow surges on strong US jobs gains in June

Business | 2 Jul 2020 9:59 pm

Stocks are rising at the open on Wall Street Thursday after the U.S. government said employers added 4.8 million jobs in June and the unemployment rate fell to 11.1 percent.

The figures were better than expected, though some experts caution that the report was compiled before a resurgence of coronavirus cases across the Sun Belt forced some businesses that reopened to shut again. Those closures call into question the strength of the jobs recovery.

The Dow Jones Industrial Average traded 412 points higher, or 1.6 percent. The Nasdaq Composite  hit a record high, climbing more than 1 percent. The S&P 500 gained by gained 1.4 percent.

The yield on the 10-year Treasury climbed slightly to 0.69 percent and oil gained by more than 1 percent.-AP/CNBC

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