Wall Street Breakfast: What Moved Markets This Week

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Stocks ended the week strong after a weaker-than-expected jobs report fueled hopes that the Fed will cut rates in July. The closely watched May nonfarm payrolls report disappointed, rising a paltry 75K vs. the +185K estimate; furthermore April's number was trimmed to 224K from 263K. For the week, the Dow rallied 4.7%, the S&P surged 4.4%, the Nasdaq climbed 3.9% and the Russell 2000 lagged a bit with a 3.3% gain. The 10-year Treasury yield ended the week at 2.08%. After the markets closed on Friday, President Trump announced an agreement with Mexico was signed to end the threat of tariffs on imports.

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