Wall Street Storms to Records Q3 Opening Week After US Jobs Beat Forecast

© AFP 2022 / BRYAN R. SMITHThe day's closing numbers are displayed after the closing bell of the Dow Industrial Average at the New York Stock Exchange on March 8, 2018 in New York.
The day's closing numbers are displayed after the closing bell of the Dow Industrial Average at the New York Stock Exchange on March 8, 2018 in New York. - Sputnik International, 1920, 02.07.2021
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NEW YORK (Sputnik) - US stocks made their third-quarter weekly debut with record highs for the blue-chip S&P 500 and tech-heavy Nasdaq Composite indexes as strong job numbers for June signaled a further recovery from the coronavirus pandemic.
The S&P 500 index, which groups the top 500 stocks on the New York Stock Exchange, raced to an all-time high of 4,355 before closing at 4,351. It was up 0.7% on the day and 1.6% on the week and quarter, extending its second-quarter gain of 8%.
Nasdaq, which includes high-flying tech stocks such as Facebook, Amazon, Apple, Microsoft, Netflix and Google, hit a record high of 14,649 before settling at 14,639. It rose 0.8% on the day and 1.9% on the week and quarter, after the previous quarterly gain of nearly 10%.
The Dow Jones Industrial Average, the broadest US equity barometer on the New York Stock Exchange, finished at 34,786, rising 0.4% on the day and 1.0% on the week and quarter. The Dow was the only laggard among major US equity indices in the second quarter, falling 4.6%.
This week’s rally came after the Labor Department’s non-farm payrolls report for June showed that US employers added 850,000 jobs in June, at least 100,000 above average forecast levels, signaling further economic recovery from the COVID-19 coronavirus pandemic.
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