Breaking stock market news today July 2, 2020
July 2, 2020
Breaking stock market news today
“The U.S. economy added millions more payrolls in June from May, as regions across the country eased social distancing restrictions and allowed more businesses to reopen. The net additions in payrolls topped consensus expectations.
Meanwhile, the unemployment rate fell from May’s level but held at a historically high level, as many Americans remained out of work with the pandemic still under way.
Here were the main metrics from the Department of Labor’s report, compared to consensus estimates compiled by Bloomberg:
Change in non-farm payrolls: +4.8 million vs. +3.23 million expected
Unemployment rate: 11.1% vs. 12.5% expected
Average hourly earnings, month on month: -1.2% vs. -0.8% expected
Average hourly earnings, year on year: +5.0% vs. +5.3% expected”
Stock market data: Yahoo Finance
[…] Stock market today reacted positively to the strong jobs report but some profit-taking took place after the recent gains for stocks and major stock indices. […]