CNBC
CNBC

Winning week | June jobs up 4.8 million | Record jump in new coronavirus cases

Email sent: Jul 2, 2020 4:31pm

Is this your brand on Milled? You can claim it.

Stocks finished the week with healthy gains, even as investors considered rising coronavirus cases.

VIEW IN BROWSER | SUBSCRIBE

THU, JUL 02, 2020

EVENING BRIEF
 

AS OF THU, JUL 02, 2020 • 04:30 ET

DJIA 25827.36
+0.36% +92.39
S&P 500 3130.01
+0.45% +14.15
NASDAQ 10207.63
+0.52% +53.00

 

Most Active
DOW
NAME LAST CHG %CHG
PFE 34.51 +0.77 +2.28%
BA 180.81 +0.49 +0.27%
MSFT 206.26 +1.56 +0.76%
S&P 500
NAME LAST CHG %CHG
AAL 12.50 -0.31 -2.42%
GE 6.82 +0.08 +1.19%
F 6.05 +0.07 +1.17%
NASDAQ
NAME LAST CHG %CHG
AAL 12.50 -0.31 -2.42%
UAL 34.14 -0.31 -0.90%
FB 233.42 -4.13 -1.74%

EDITOR'S NOTE

 
 

Investors got fantastic employment news Thursday morning and briefly drove the Dow Jones Industrial Average more than 400 points higher, but …

 

The 4.8 million jobs added in June were not cause for celebration,writes CNBC's Patti Domm, because the record count didn't include the last weeks of the month when a surge in coronavirus cases began to stall reopening plans.

 

“It’s not the time to pop champagne corks," said Diane Swonk, chief economist at Grant Thornton. "This is backward-looking data and many of these people could lose their jobs again in July."

 

Image

Some sectors will take years to reclaim pre-coronavirus employment levels or they may never get there at all, writes CNBC's Thomas Franck in his breakdown of short-term and long-term employment changes.

 

Stocks finished the day slightly higher, and ended the week with healthy gains, as the market is closed Friday for the Independence Day holiday.

 

"It’s not an all-clear day,” said JJ Kinahan, chief market strategist at TD Ameritrade. "Any piece of news can send us moving pretty quickly one way or the other."

 

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

TOP NEWS 

 
 
Stocks rise after better-than-expected jobs report to close out winning week
Record jobs gain of 4.8 million in June smashes expectations; unemployment rate falls to 11.1%
A breakdown of where the jobs are coming back and where they may never fully return
Stocks rally on record jobs gain, but bonds reflect concern that virus spread could slow hiring
Q2 was easy for investors, just buy everything that fell in Q1. Q3 it's not so simple — What to do
U.S. coronavirus cases soar by more than 50,600 in record single-day jump
Track the latest coronavirus news here
Biden challenges Trump's sunny picture of the U.S. economy as coronavirus cases surge
Moderna stock falls by as much as 9.4% after report says late-stage coronavirus vaccine trial delayed
Here are Wall Street's favorite S&P 500 stocks for the second half

 

 

TOP VIDEO

 
 

 

CNBC PRO

 
 

 

SPECIAL REPORTS

 
 

 

Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel
Digital Products Feedback Privacy Policy  
© 2020 CNBC LLC. All rights reserved. A property of NBCUniversal.
900 Sylvan Avenue, Englewood Cliffs, NJ 07632
Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis.
Data also provided by THOMSON REUTERS

Other emails from CNBC

CNBC
Aug 7, 2020
Stocks making the biggest moves in the premarket: TripAdvisor, T-Mobile US, FedEx, Uber & more
CNBC
Aug 6, 2020
China says its exports rose 7.2% on-year in July
CNBC
Aug 6, 2020
Tech pushes Nasdaq above 11,000 | Big jobs report Friday | Cramer on stimulus talks
CNBC
Aug 6, 2020
Uber revenue drops 29% but delivery bookings double
CNBC
Aug 6, 2020
Stocks rise for a fifth straight day led by tech, Nasdaq closes above 11,000 for the first time
CNBC
Aug 6, 2020
These 10 jobs don't require a bachelor's degree—some could earn you $80,000 or more a year