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U.S. Stocks Rally on Strong Jobs Data Despite OECD Trade Warning
U.S. Stocks Rally on Strong Jobs Data Despite OECD Trade Warning
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The Dow Jones Industrial Average climbed 209 points as robust labor market figures overshadowed global growth concerns. April’s Job Openings and Labor Turnover Survey revealed 7.39 million new positions, defying expectations amid ongoing tariff implementations.
Market momentum reversed sharply after the data release, with the Nasdaq leading gains at 0.81%. The report signals sustained labor market strength ahead of Friday’s crucial Bureau of Labor Statistics update.
OECD’s downward revision of global growth forecasts to 2.9% failed to dampen investor sentiment. The organization highlighted disproportionate impacts on major U.S. trade partners including China, where tariff effects are expected to be most severe.
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