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Wall Street climbs as weak private jobs data boost rate cut hopes

Updated : June 06, 2019 06:14 AM IST

The gains extended the rally on Tuesday when Fed Chairman Jerome Powell indicated the central bank may have to react to the US trade wars, boosting rate cut hopes. Other Fed officials also hinted that a rate cut was possible.
The Dow Jones Industrial Average rose 207.39 points, or 0.82 percent, to 25,539.57, the S&P 500 gained 22.88 points, or 0.82 percent, to 2,826.15 and the Nasdaq Composite added 48.36 points, or 0.64 percent, to 7,575.48.
Investors were also encouraged after US President Donald Trump said he thinks Mexico wants to reach a deal to stop a new trade war.
Wall Street climbs as weak private jobs data boost rate cut hopes
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