⚠️BREAKING: *DOW SOARS 700 POINTS TO END THE WEEK AS U.S. STOCKS JUMP AFTER STRONG JOBS REPORT, DEBT CEILING DEAL $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
-U.S. stocks closed higher on Friday after a labor market report showing moderating wage growth in May indicated the Federal Reserve may skip a rate hike in two weeks, while investors welcomed a Washington deal that avoided a catastrophic debt default.
The jump in the unemployment rate from a 53-year low of 3.4% in April reflected a drop in household employment and a rise in the overall workforce. A bigger labor pool is easing pressure on businesses to raise wages and helping decelerate inflation. But some pointed to the much hotter-than-expected jobs data as a sign the Fed still has not yet tamed inflation.
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