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Wall Street Rises On Interest Rate-cut Hopes

Video Credit: Wochit Business - Duration: 00:47s - Published
Wall Street Rises On Interest Rate-cut Hopes

Wall Street Rises On Interest Rate-cut Hopes

According to Reuters, U.S. stocks extended gains in a broad-based rally on Friday, as a sharp slowdown in May domestic job growth raised hopes of an interest rate cut, while the United States’ decision to delay tariffs on Chinese goods lifted the mood.

A Labor Department report showed nonfarm payrolls increased by 75,000 jobs last month, much smaller than the 185,000 economists polled by Reuters had forecast, suggesting the loss of momentum in economic activity was spreading to the labor market.

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