US Stock Markets Close Out the Day with Gains
Friday’s trading session on the US stock markets saw a significant upswing, with the Dow Jones Industrial Average closing at 42,763 points, a 1.1 percent increase from the previous day’s close. The broader S&P 500 index also rose by 1.1 percent, reaching around 6,000 points, while the Nasdaq Composite, a technology-heavy index, added 1.0 percent, closing at approximately 21,762 points.
Investors, who had been concerned about the potential impact of the US-China trade tensions on the economy, took a more optimistic view of the latest job market data, which showed the US economy adding 139,000 jobs in May, exceeding expectations. The labor market’s resilience in the face of a slowing pace of job cuts has been a positive sign for the overall economy.
Meanwhile, the euro, the common currency of the European Union, weakened against the US dollar, with one euro now equivalent to 1.1395 US dollars and one US dollar worth 0.8776 euros.
Gold prices, on the other hand, saw a significant decline, with one ounce of the precious metal selling for 3,309 US dollars, a 1.3 percent drop, or 93.37 euros per gram.
Oil prices, however, surged, with a barrel of Brent crude rising by 1.8 percent to 66.49 US dollars, as of 22:00 Central European Time on Friday.