American actions joined Friday after stronger than expected labor market has helped to mitigate the fears of an imminent economic slowdown.
The industrial average of Dow Jones jumped 373 points, 0.9%, while the S&P 500 won 0.9%, briefly affecting the level of 6,000 for the first time since the end of February.
The Nasdaq Composite has outperformed with an increase of 1.2%, supported by vast gains in technological shares.
The May non -agricultural report of May showed that the American economy added 139,000 jobs, exceeding the Dow Jones estimate of 125,000.
While the figure was lower than the revision of the drop in April in April, 147,000, it was considered a sign of resilience in the midst of recent concerns concerning a cooling labor market.
The unemployment rate remained stable at 4.2%.
The markets had been in advance earlier in the week after a series of data versions indicated the softer hiring in the private sector and the increase in unemployment allegations.
Friday, the better than expected salary number provided a certain relief, strengthening the feeling of investors before the next political meeting of the federal reserve scheduled for June 17 to 18.
The attention will now turn to the way the Fed interprets the latest data, in particular in the context of current trade negotiations and inflation trends.
Slow labor market growth
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The American economy added 139,000 jobs in May, exceeding the expectations of 120,000, but still indicating progressive cooling on the labor market.
According to the Friday report of the Bureau of Labor Statistics, employment growth has slowed down by the revised figure of 147,000.
The unemployment rate remained unchanged at 4.2%, near historic stockings, suggesting a still resilient but decelerating labor market.
One of the most notable developments was the continuous reduction in federal workforce, which lost 22,000 jobs in May only.
Since January, the sector has lost 59,000 positions, a drop related to the cost of reducing the Trump administration and the controversial controversial initiative of the Government Ministry.
While the overall creation of jobs has remained positive, the image of labor market participation has weakened.
The employment / population ratio fell to 59.7%, its lowest since the height of the pandemic, highlighting the underlying sweetness which could become more pronounced if the hiring of the private sector loses additional momentum in the coming months.
The quarrel of Mousque-Trump is still not over
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US President Donald Trump does not intend to speak with Elon Musk, a senior White House official said on Friday, previously contradicting the information that an appeal between the two was scheduled for the day.
The overthrow comes in the middle of a public escalation between the former allies, focused on the Trump Tax Cup bill and broader policy differences.
The rupture marks a spectacular change in the relationship between the president and the richest man in the world, which had once been one of Trump’s most eminent donors and political advisers.
Musk, who played a key role in the support of Trump’s campaign and then directed high-level efforts to reduce federal spending and reduce government workforce, is now disagreeing with the administration.
Their dispute exploded Thursday in the public through a dam of attacks exchanged on the Trump Trump social platform and the X Musk (formerly Twitter).
The repercussions struck Tesla Hard: the actions of the electric vehicle manufacturer plunged 14%, annihilating around $ 150 billion in market value – the highest decline in a day in the history of the company.
Tesla’s actions bounced slightly in pre-commercial trade on Friday, winning up to 5% on the first reports of a possible call for reconciliation.
Clarification of the White House that no conversation of this type is planned suggests that the Rift is far from over, which has a potentially impact on political and market dynamics in the coming weeks.
