Monday proved to be a bit volatile as early morning progress for the market was lost in the afternoon but recovered some shortly before the close. The major indices ended mixed, with only the Dow Jones Industrial Average closing up a few points. Investors were likely anxious over reports that Technology companies could face regulatory scrutiny. In economic news, the ISM Manufacturing Index came in at 52.1 for May, short of analysts’ expectations. Indices closed in the green zone on Tuesday, with stocks stepping up on words from the Federal Reserve. Fed Chairman Jerome Powell indicated the central bank could respond to trade tensions with interest rate cuts, and several lawmakers have said levies on Mexico would be blocked if President Trump pursued them. On another note, Technology sector stocks rebounded. The NASDAQ Composite advanced 2.65%, moving out of correction territory. Indices ended in positive territory on Wednesday, with the Dow and S&P 500 Index closing at their best back-to-back session since January. Utilities led gainers while the Energy sector lagged. Elsewhere, crude oil prices dipped. West Texas Intermediate crude shed $1.80 to settle at $51.68 a barrel. Stocks continued to step up Thursday following a report that the White House may postpone tariffs on Mexican goods. Additionally, Labor Department data showed initial jobless claims were unchanged at 218,000 for the week ended June 1, while claims for the previous week were upwardly revised to 218,000 from 215,000. The good mood of the markets continued through Friday, despite a weaker-than-expected Jobs Report. Both the Dow and the S&P tacked on 1%, while the NASDAQ led the pack with a 1.7% increase. However, the United States added only 75,000 jobs for May, which was less than half of consensus expectations.
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