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Wall Street Ends Week Lower Amid Strong Jobs Report and Fed Rate Concerns | Daily Market Analysis
Key events: Japan - GDP (QoQ) (Q1) Wall Street stocks finished the week slightly lower on Friday following a session of volatile trading. A stronger-than-expected US jobs report indicated a robust economy but raised concerns that the Federal Reserve might delay cutting interest rates longer than investors had hoped. According to the Labor Department, the US economy added approximately 272,000 jobs in May, significantly surpassing the 185,000 forecast by analysts. Despite the job growth, the unemployment rate edged up to 4%.
S&P 500 Gains, Tech Sector Leads; All Eyes on April Jobs Report | Daily Market Analysis
Key events: USA - Average Hourly Earnings (MoM) (Apr) USA - Nonfarm Payrolls (Apr) USA - Unemployment Rate (Apr) USA - S&P Global Services PMI (Apr) USA - ISM Non-Manufacturing PMI (Apr) USA - ISM Non-Manufacturing Prices (Apr) Thursday saw the S&P 500 closing on a positive note, with the tech sector leading the gains, while investors continued to analyze a multitude of corporate earnings ahead of the significant monthly jobs report scheduled for Friday.
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