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.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more