Coronavirus: Tesla, Apple shares climb as big job gains spur economic rebound hopes

Coronavirus: Tesla, Apple shares climb as big job gains spur economic rebound hopes

4 years ago
Anonymous $-9GJQVHNr8

https://www.mercurynews.com/2020/06/05/as-job-gains-surge-tesla-apple-lead-bay-area-stocks-higher/

Fueled by a record increase in U.S. jobsĀ  in May, Bay Area companies such as Tesla, Apple and HP saw their stock prices climb Friday as Wall Street surged on hopes that the economy is starting to recover from months of being decimated by the coronavirus pandemic.

Before trading began, the Labor Department reported that the economy added 2.5 million non-farm jobs in May, a record increase for a single month, as more businesses began to reopen and shelter-in-place orders began relaxing around the country. Economists had estimated the economy would lose another 8.3 million jobs during the month.