US stocks rise despite weak jobs report
CNN
Bad economic news was once again greeted with cheers on Wall Street. Investors brushed off Friday's surprisingly weak jobs report, which showed far fewer jobs were added last month than expected.
The Dow and the S&P 500 both rose to new all-time highs Friday morning, and the Nasdaq soared nearly 1.5% as big tech stocks bounced after a recent stretch lagging the broader market. The jobs report also showed that the unemployment rate ticked up and wages surged. The jump in worker paychecks may not seem like a bad thing, but it tends to set off alarm bells about inflation. And many economists are worried inflation is due to come roaring back because of all the stimulus from Washington.More Related News
President Joe Biden has given permission to Ukraine to strike inside Russian territory with American munitions, though he has restricted their use so Kyiv can only hit targets over the border close to Kharkiv after Russia made significant advances around the city in the northeastern part of the country close to the Russian border, two US officials told CNN.
5 things to know for May 30: Presidential race, Flag controversy, Gaza, Volcano eruption, Price cuts
CNN’s 5 Things brings you the news you need to know every morning.