Data on Friday showed a surprise rise in U.S. jobs in May, offering the clearest signal yet the downturn triggered by the Covid-19 pandemic was probably over, although the road to recovery could still be long.
US stocks were higher after the close on Friday, as gains in the, and sectors led shares higher.
The US Dollar Index Futures was up 0.29% at 96.938. The Hang Seng in Hong Kong edged 0.1% higher, to 24,371.38.
Norwegian Cruise Line rose 20.8per cent, and United Airlines jumped 21.6 per cent.
But the European Central Bank also warned it expects the region's economy to shrink 8.7% this year due to the pandemic.
More recently, it's been hoped that growth can resume for the economy as states across the country and nations around the world relax lockdown restrictions meant to slow the spread of the virus.
Coronavirus precautions were cited as the reason for withholding permission for the annual vigil, but participants saw that as a convenient excuse for police wary after months of sometime violent anti-government protests.
Most attention is focused on USA unemployment data coming later Friday, analysts said.
USA initial jobless claims registered 1.877 million in the week ending May 30, as the COVID-19 fallout continues to ripple through the nation and weighed on the labor market, the Department of Labor reported on Thursday.
The S&P 500 is now down only about 6.3% from its record set in February after earlier being down almost 34%.
The S&P 500 and Dow Jones indexes are now down about 6 per cent and 9 per cent, respectively, from their all-time highs.
Today's report from the Labor Department is likely to show the USA unemployment rate shooting up to nearly 20% in May, a new post-World War II record, but investors have so far shrugged off dire data on hopes that an easing of Covid-19-led lockdowns would revive business activity.
Unemployment Claims see downward trend in Rutherford County and throughout Tennessee
ME had uncovered and canceled at least 2,200 fraudulent claims and was investigating at least 1,000 more as of last Wednesday . New claims for the week ending May 30 increased by 31,083 to 206,494 in the Sunshine State.
At the close in NYSE, the gained 3.15% to hit a new 3-months high, while the index added 2.62%, and the index climbed 2.06%.
At 10:00 am ET, the Dow Jones Industrial Average rose 654.25 points, or 2.49%, to 26,936.07.
"The unemployment rate was solid; the participation rate was higher".
The Nasdaq joined the S&P 500 in negative territory, while the blue-chip Dow posted a nominal gain.
The S&P 500 is now within 8.1% of its record set in February after earlier being down almost 34%.
The yield on the 10-year Treasury rose to 0.88% from 0.82% late Thursday.
NY stocks have surged on hopes for a faster rebound from the economic damage caused by the coronavirus.
It has risen as major oil producers began discussing extending production cuts to reflect a collapse in demand due to the pandemic.
Financials, led by banks, rose 4.4% as the upbeat jobs report added to hopes that credit defaults in the second half of the year may not be as bad as many feared.
Brent crude, the worldwide standard, gained 6 cents to $40.05 per barrel.
The dollar was trading at 109.21 Japanese yen, up from 109.15 yen late Thursday.