US stock indexes on Friday rushed up amid data on the labor market
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US stock indexes on Friday rushed up amid data on the labor market
Wall Street surged Friday, as a surprise recovery in hiring suggested the labor market has turned a corner, prompting investors to raise their bets on a speedy economic comeback. The technology-heavy Nasdaq hit an intraday record.
The U.S. economy generated 2.51 million jobs in May, confounding expectations for a loss of 8 million jobs. The unemployment rate unexpectedly fell to 13.3% in May from 14.7% a month earlier.
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