Dow Jumps Over 400 Points; US Economy Adds 339,000 Jobs In May

U.S. stocks traded higher this morning, with Dow Jones gaining more than 400 points on Friday.

Following the market opening Friday, the Dow traded up 1.24% to 33,473.13 while the NASDAQ rose 0.62% to 13,182.43. The S&P 500, also rose, gaining, 0.86% to 4,257.29.

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  • Materials shares rose by 2.5% on Friday. Meanwhile, top gainers in the sector included The Chemours Company CC, up 19%, and Glatfelter Corporation GLT, up 12%.
  • In trading on Friday, utilities shares fell 0.2%.


Top Headline

The US economy added 339,000 jobs in May, significantly higher than market estimates of 190,000. The unemployment rate, however, increased to 3.7% in May.

  • U Power Limited UCAR shares shot up 58% to $11.96. U Power shares jumped 144% on Thursday after the company announced it entered into a framework strategic cooperation agreement with Quantum Solutions Co in Japan.
  • Shares of MongoDB, Inc. MDB got a boost, shooting 31% to $384.19 after the company reported upbeat results for its first quarter and issued strong projections.
  • Digital Ally, Inc. DGLY shares were also up, gaining 21% to $4.8049 after the company announced its subsidiary, Kustom Entertainment, entered into a business combination agreement with Clover Leaf Capital Corp.
  • SentinelOne, Inc. S shares dropped 35% to $13.54 after the company reported worse-than-expected first-quarter sales and issued weak second-quarter guidance.
  • Shares of PagerDuty, Inc. PD were down 15% to $23.55 after the company issued weak revenue guidance.
  • SunCar Technology Group Inc. SDA was down, falling 18% to $35.66.

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In commodity news, oil traded up 2.8% to $72.08 while gold traded down 0.7% at $1,980.70.

Silver traded down 0.8% to $23.805 on Friday while copper rose 0.8% to $3.7390.


Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 1.3%, London’s FTSE 100 rose 1.4% while Spain’s IBEX 35 Index rose 1.3% The German DAX gained 1% French CAC 40 rose 1.7% and Italy’s FTSE MIB Index climbed 1.4%.

Industrial production in France increased by 0.8% month-over-month in April versus a 1.1% drop in the prior month, and compared to market estimates of a 0.3% gain.


Asia Pacific Markets

Asian markets closed higher on Friday, with Japan’s Nikkei 225 gaining 1.21%, Hong Kong’s Hang Seng Index jumping 4.02% and China’s Shanghai Composite Index rising 0.79%. India’s S&P BSE Sensex rose 0.2%.

The value of new home loans in Australia fell by 3.8% month-over-month to A$15.40 billion during the month of April.



The US economy added 339,000 jobs in May, significantly higher than market estimates of 190,000. The unemployment rate, however, increased to 3.7% in May.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,123,540 cases with around 1,165,530 deaths. India confirmed a total of at least 44,990,870 cases and 531,870 deaths, while France reported over 40,090,330 COVID-19 cases with 167,310 deaths. In total, there were at least 689,748,740 cases of COVID-19 worldwide with more than 6,885,490 deaths.