|I:DJI||DOW JONES AVERAGES||31502.8||-1,151.79||-3.53%|
|I:COMP||NASDAQ COMPOSITE INDEX||11447.02114||-537.50||-4.48%|
The Dow gained 180 points, or 0.52%, to finish approximately 22 points off its record high while the S&P 500 edged up 0.89% and closed within three points of its own peak. The Nasdaq Composite, meanwhile, surged 200 points, or 1.47%, but still remained 2.3% below its high.
All three major market averages posted weekly gains.
May nonfarm payrolls showed the U.S. economy added 559,000 jobs last month, lighter than expected, as the unemployment rate slipped to 5.8%, a fresh pandemic low. The 10-year Treasury yield dipped below 1.57% as investors focused on an improving economy.
Hiring was powered by leisure and hospitality, private and public education, as well as health care.
|F||FORD MOTOR CO.||12.79||-0.73||-5.42%|
In stocks, Ford Motor Co. shares were higher for a second day and at a six-year high after the automaker said on Thursday that it plans to introduce an entry-level pickup truck to its lineup next week.
Railway CSX announced a 3-for-1 stock split. Shareholders of record on the close of business June 18 will receive two additional shares of common stock for each share held. The new shares will be distributed on June 28.
In tech, the E.U. and U.K. have opened an antitrust investigation into whether Facebook Inc. used its classified-ads service Marketplace to repurpose advertiser data for its own illegal advantage.
|FB||META PLATFORMS INC.||193.46||-9.16||-4.52%|
AMC Entertainment CEO Adam Aron said in an interview with Trey’s Trades channel on YouTube that he would like to sell up to 25 million more shares. The sale, if approved, would not be allowed to happen until next year. Aron said AMC now has $2 billion in cash.
|AMC||AMC ENTERTAINMENT HOLDINGS INC||12.72||-0.16||-1.24%|
With earnings season winding down, e-signature vendor Docusign Inc. posted its results with profits and revenue that easily outpaced Wall Street estimates and guided sales for the current quarter above expectations.
In commodities, West Texas Intermediate crude oil climbed 81 cents to $69.62 per barrel and gold jumped $18.60 to $1,889.80 an ounce.
Overseas markets were quiet.
Europe bourses rallied across the board with Britain’s FTSE 100 up 0.07%, France's CAC 40 advancing 0.12% and Germany’s DAX 30 gaining 0.39%.
China’s Shanghai Composite outperformed in Asia, ticking up 0.21%, while Hong Kong’s Hang Seng index declined 0.17% and Japan’s Nikkei 225 fell 0.4%.