Stock market today: Asian shares track Wall St's advance fueled by cooler jobs data
Monday, 6 May 2024 () Asian shares are mostly higher after Wall Street ended Friday with the best day for the stock market in over two months. The rally late last week was backed by the cooler-than-expected U.S. employment data. For markets that was a welcome sign that the Federal Reserve's efforts to fight inflation by slowing the economy with high interest rates might be making some progress. The S&P 500 rose 1.3% Friday, its biggest gain since February. The Dow Jones Industrial Average rose 1.2%. and the Nasdaq composite climbed 2%. U.S. employers added 175,000 jobs last month, down sharply from a big increase in March.
Stock Markets Rally , Amid Investor Hopes for , Interest Rate Cuts in 2024.
On the morning of May 15, both the S&P and the
Nasdaq hit all-time highs after new data suggested
inflation may be easing..
Credit: Wibbitz Top Stories Duration: 01:30Published
Monday, 6 May 2024 ()
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