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03 Jul: Stock market news for July 2, 2020

Latest stock market news for July 2, 2020. “Stock rose on Thursday and gained for the week, as investors cheered the resiliency of a U.S. economy that created nearly 5 million jobs last month in the throes of the raging coronavirus pandemic. The U.S. economy added a greater than expected number of 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, and far exceeded ADP’s private payrolls data on Wednesday, which logged a gain of over 2.3 million jobs. Although new unemployment insurance claims were higher than expectations, investors shrugged off the report in favor of the boom of workers returning to the labor force. The S&P 500 rose about 0.5% on Thursday to cap off an advance of 4% since market close last Friday. The Dow rose 4.6%, while the…