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Market Update: Wall Street Ends Volatile Week Higher
All three main US stock indexes gained ground Friday to end a roller-coaster week higher, helped by technology shares, as weaker-than-expected jobs growth eased worries about an overheating economy. The US economy added 559K jobs in May, above an upwardly revised 278K in April but below market forecasts of 650K. Concerns that a robust economic rebound could lead to a prolonged period of inflation and prompt the Fed to consider paring back its crisis level support have spooked investors away from equities earlier this week. However, this latest reading of the job market cemented the Fed’s narrative that the central bank will continue to remain ultra-accommodative until the economy has further recovered. [/s2If]
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