Wall Street Heads Into Long Weekend on a Lift

Jobs report helps Dow rise 92
By John Johnson,  Newser Staff
Posted Jul 2, 2020 3:15 PM CDT
Wall Street Heads Into Long Weekend on a Lift
Trader Gregory Rowe works on the floor of the New York Stock Exchange Wednesday, July 1, 2020.   (Nicole Pereira/NYSE via AP)

The stock market has Friday off for the holiday, and Wall Street's shortened week ended on an upbeat note. The Dow rose 92 points to 25,827, the S&P 500 rose 14 points to 3,130, and the Nasdaq rose 53 points to 10,207. All the gains were well under 1%. Investors were pleased at Thursday's stronger-than-expected jobs report, per the Wall Street Journal, although bigger gains in the morning tapered off in the afternoon, particularly in the last hour of trading.

“We’re starting to see the real economic data say, ‘Yes, the recovery is here, and it’s real,’” Brad McMillan, chief investment officer for Commonwealth Financial Network, tells the AP. Still, the jobs celebration was tempered because the data came in before new coronavirus shutdowns occurred. And on Thursday, the market dropped when news emerged that Florida had registered more than 10,000 coronavirus cases in a single day. (More stock market stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.