Dow climbs 461 points as economic reopening spurs recovery hopes
US stocks rose on Monday to a 15-week high as economic recovery hopes led to rallies inThe S&P 500 wiped out its year-to-date loss in the final minutes of trading.
The gains continue a rally from Friday that came after the better-than-expected May jobs report provided investors an encouraging sign. Oil producers jumped following OPEC's agreement to extend historic production cuts, but oil slumped. US stocks rose on Monday to a 15-week high as economic recovery hopes extended the prior week's rally. Airlines, cruise lines, and retail were among the groups to contribute to gains.Investors were encouraged on Friday after a much stronger-than-expected May jobs report shocked economists who expected greater fallout from the coronavirus.
that unemployment actually declined, despite forecasts for an increase. US employers also added 2.5 million jobs, bucking forecasts for deeper losses.
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