· Wall Street rallies to end higher on surprise U.S. jobs report
Wall Street surged on Friday after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the U.S. economy is headed for a quicker-than-anticipated recovery.
The Dow Jones Industrial Average rose 829.16 points, or 3.15%, to 27,110.98, the S&P 500 gained 81.58 points, or 2.62%, to 3,193.93 and the Nasdaq Composite added 198.27 points, or 2.06%, to 9,814.08.
Market participants now turn their focus to the U.S. Federal Reserve, which holds a monetary policy meeting next week where the latest jobs data will almost certainly be discussed.
The Nasdaq breached its all-time closing high reached in February but pared its gains to end the session a hair’s breadth below it. All three major U.S. stock indexes advanced 2% or more.
The S&P 500 and the Dow are now 5.7% and 8.3% below their respective closing records.
The benchmark S&P 500 is now 1.1% below its year-to-date break-even level.
· Wall Street set to build on last week’s rally as Dow futures jump nearly 200 points
U.S. stock futures rose on Sunday night following last week’s sharp gains amid optimism over the economy reopening.
Dow Jones Industrial Average traded 190 points higher, or 0.7%. S&P 500 and Nasdaq-100 futures were both up 0.6%.
· Japan stocks set to rise as U.S. jobs data bounces unexpectedly; oil prices jump
Stocks in were higher in Monday morning trade after U.S. jobs data released Friday had an unexpected jump, spurring hopes of an economic recovery from the coronavirus pandemic.
In Japan, the Nikkei 225 added 1.06% as shares of Fanuc gained 2.2%. The Topix index also rose 0.83%. Over in South Korea, the Kospi advanced 1.03%, with shares of automaker Hyundai Motor surging 2.7%.
Overall, the MSCI Asia ex-Japan index traded more than 0.2% higher.
Markets in Australia are closed on Monday for a holiday.
· Thailand reports eight new coronavirus cases, no new deaths
Thailand on Sunday reported eight new coronavirus cases and no new deaths, taking its total to 3,112 infections and 58 deaths since the outbreak began in January.
The new cases had returned from overseas - five from the United Arab Emirates, two from Kuwait and one from India - and were in quarantine, where most of Thailand’s recent cases have been detected, said Panprapa Yongtrakul, an assistant spokeswoman for the government’s COVID-19 Administration Centre.
Thailand has recorded no new local virus transmissions for 13 days in a row, she said.
Reference: Reuters, CNBC
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