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05 Jun 2020, 08:30:55 AM IST
US stocks snap four-day winning streak
Wall Street retreated on Thursday as investors hit the pause button in advance of Friday’s jobs report, capping a four-day rally driven by rising economic sentiment. While all three major indices were modestly lower, they have shown remarkable resilience since their late March plunge, with the Nasdaq, the S&P 500 and the Dow now within 2%, 9% and 12% of their respective record highs reached in February. The Nasdaq 100 briefly breached its record closing high earlier in the session. Friday’s much-anticipated jobs report from the Labor Department is expected to show the US unemployment rate sky-rocketing to a historic 19.7%.