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  • American Airlines stock adds to its tally of records with a weekly gain of over 75%

    Shares of American Airlines Group Inc. (AAL) 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%.

  • Dow ends over 800 points higher after May jobs surprise

    Stocks soared Friday, with the Nasdaq Composite touching an all-time intraday high, as investors cheered a May jobs report that unexpectedly showed a 2.5 million rise in nonfarm payrolls and a fall in the unemployment rate. The Dow Jones Industrial Average rose around 829 points, or 3.2%, to finish near 27,110, according to preliminary figures, while the S&P 500 advanced around 82 points, or 2.6%, to close near 3,194. The Nasdaq Composite finished 198 points higher, up 2.1%, near...

  • *Stocks roar into the close on surprise strong jobs report

    (END) Dow Jones Newswires 06-05-20 1601 ET Copyright (c) 2020 Dow Jones& Company, Inc..

  • U.S. consumer credit plummets in April as credit-card use tumbles by record amount

    Consumer borrowing declined in April by the fastest rate since 1943 as credit card use saw a record decline, according to Federal Reserve data released Friday. Total consumer credit decreased at a 19.6% rate or $68.8 billion in April. Economists has been expecting a $14 billion fall, according to Econoday.

  • Surprising May jobs report hinders push for another big aid package, analysts say

    'There is a lessening of the crisis mentality forcing Republicans to act'. The better-than-expected U.S. jobs report for May likely will hamper the push for another big coronavirus relief package, but divided Washington probably still will deliver an additional aid measure in July, analysts said Friday. The surprising report showed the U.S. economy added 2.5 million jobs last month as the unemployment rate fell to 13.3% from 14.7%.

  • 10-year Treasury yield climbs above 0.90% after unexpected job gains in May

    Investors see gradual economic recovery ahead. Treasury yields climbed further Friday after the monthly U.S. employment report showed an unexpected surge in job gains, strengthening market expectations that the economy's recovery is on track. The 10- year Treasury note yield climbed 8.5 basis points to 0.903%, after trading at its highest since March, while the 2- year note rate was up 2 basis points at 0.058%.

  • 'No masks please, we're British:' When it comes to face coverings, Europeans, Americans and Asians have very different views

    One in five Britons said they believed masks are "not effective at all" in curtailing the spread of the coronavirus. The U.K. government announced that nonmedical face coverings will be mandatory on public transport in England from June 15, with potential fines for noncompliance. But a new survey of half a dozen countries that have been hit hard by the coronavirus pandemic suggests that Brits aren't going to be happy with these new regulations.

  • 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.

  • Oil prices log over 11% weekly rise, with OPEC+ set to meet Saturday to discuss extension of output cuts

    By Myra P. Saefong and Mark DeCambre, MarketWatch. Upbeat U.S. jobs report feeds expectations for higher energy demand. Crude-oil futures ended sharply higher Friday, supported by news that major oil producers will convene Saturday to discuss plans for extended productions cuts, while an unexpected monthly climb in U.S. jobs suggested a recovery in energy demand mat be at hand.

  • U.S. regained 2.5 million jobs in May, unemployment falls to 13.3%, BLS says

    In a big surprise, the government said the economy added 2.5 million jobs in May and the unemployment rate fell. Economists polled by MarketWatch had predicted the loss of 7.25 million jobs. The unemployment rate slipped to 13.3% from 14.7%, though the Bureau of Labor Statistics said the rate would have been 3 points higher if households answered their forms correctly.

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