Wall Street Nonfarm Payroll Report

Stocks in the US opened higher on Thursday, June 2, as investors reacted positively to data that showed a slowdown in wage growth in May, which lowered the possibility of an interest rate hike by the Federal Reserve. The Dow Jones increased by 0.38% to 33,187.58, while the S&P 500 and Nasdaq rose by 0.47% and 0.68% respectively. The positive sentiment was also supported by the recent deal reached in Congress to avert a possible debt default. On Wednesday, June 1, the S&P 500 and Nasdaq rose by 0.99% and 1.28% respectively, while the Dow Jones increased by 0.47%. Additionally, it was reported that the US non-farm payrolls data, a crucial indicator of the labor market, exceeded expectations.

 

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