Lowest unemployment in a half century.
Dow rises 200 points after unemployment falls to lowest in half century, Amazon leads gains
Stocks rose on Friday, rebounding from a two-day loss, as data showed U.S. job creation was stronger than expected in April.
The Dow Jones Industrial Average rose about 200 points, while the Nasdaq Composite climbed 1.1% higher and the S&P 500 also gained 0.7%. Shares of Amazon got a boost from an investment by Warren Buffett’s Berkshire Hathaway.
The U.S. added a robust 263,000 new hires in April while the unemployment rate fell to 3.6%, the lowest since December 1969, according to a Labor Department report Friday. The nonfarm payroll growth far outpaced Wall Street expectations of 190,000 and a 3.8% jobless rate, according to Dow Jones estimates.
“It was definitely a strong number without a doubt,” said Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research. “The average for the last three months has only been around 164,000, so it’s way above that.”
https://www.cnbc.com/2019/05/03/us-stoc ... focus.html
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