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Post by bot on May 8, 2020 19:50:45 GMT -5
Dow books 450 point gain as investors look past worst U.S. unemployment rate since the Great Depression
U.S. stocks ended sharply higher on Friday, contributing to substantial weekly gains, as investors shrugged off another round of dismal labor-market data and concentrated on the easing of lockdowns across the country. The S&P 500 rose 49 points, or 1.7%, to end around 2,930. The Dow Jones Industrial Average advanced 455 points, or 1.9%, to finish near 24,331, based on preliminary numbers. The Nasdaq Composite climbed 142 points, or 1.6%, to 9,121. The official jobs report showed that 20.5 million jobs were shed last month, and the unemployment rate soared to 14.7% from 4.4% in March.
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