Following a strong May jobs report and the Senate passing the debt ceiling bill, stock futures rose on Friday. This news eased investor fears over a US debt default and concerns about a marked slowdown in the economy. Futures tied to the S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) increased by approximately 0.6% on Friday, while Nasdaq futures (^IXIC) rose by around 0.3%.
On Friday, data from the Bureau of Labor Statistics showed that the US economy added 339,000 nonfarm payroll jobs last month, with the unemployment rate rising to 3.7%. This marks the 14th-straight month that job creation has exceeded Wall Street economists’ expectations. Economists had predicted that nonfarms would rise by 195,000, with the unemployment rate expected to tick up to 3.5%.
Investors’ debt ceiling fears are diminishing as the Senate approved a bill that will raise the U.S. debt ceiling for two more years. Easing debt ceiling worries propelled stocks…
2023-06-02 07:59:00
Post from finance.yahoo.com
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