US stocks soar on strong jobs report

By Syed Sajid Aziz in USA
(Pakistan News & Features Services)

The US stocks surged at the conclusion of the week on June 5, after the government reported that 2.5 million jobs were added in May and that the nation's unemployment rate fell to 13.3%.

It has been viewed as a surprise because the economists had been expecting significant job losses and a spike in the unemployment rate to near 20%.

But the reopening of several states, leading to more Americans than expected returning to work has seemed to have brought about the positive change.

The Dow soared nearly 830 points or 3.2% while the S&P 500 rose 2.6% and the Nasdaq was up more than 2% to finish the day just below its record closing level from February 19.

The tech-heavy Nasdaq, home to Apple (AAPL), Amazon (AMZN) and the rest of the FAANG stocks, also notched a new intraday all-time high of 9,846.

The five most valuable companies in the United States, Apple, Microsoft, Amazon, Google and Facebook, were now collectively reported to be worth $5.7 trillion while Netflix had a market cap of nearly $185 billion and shares were up 30% during the current year.

Comments

KDSP: Empowering Individuals with Down Syndrome in Karachi

The Karachi Down Syndrome Program (KDSP), a beacon of hope and support, is making significant strides in empowering individuals with Down syndrome in the city. Founded in March 2014 by a group of passionate parents and individuals, KDSP addresses the critical need for comprehensive resources and platforms for those with Down syndrome in Karachi. Bridging the Gap: A Mission of Advocacy and Inclusion KDSP operates as a non-profit organization with a clear mission: to advocate for the value, acceptance, and inclusion of individuals with Down syndrome. Recognizing the limited support and resources available locally, KDSP was established to provide a nurturing environment where individuals with Down syndrome can lead independent and fulfilling lives. A Lifelong Journey of Support Understanding the unique needs of individuals with Down syndrome and their families, KDSP offers unwavering support from the moment a family receives a diagnosis. They embark on a journey with each family, pro...

Akbar Ali Khan elected AMUOBA President, appointed SSUET Chancellor

By Abdul Qadir Qureshi (Pakistan News & Features Services) Akbar Ali Khan, son of the distinguished Engr Zakir Ali Khan, has been elected as the President of the Aligarh Muslim University Old Boys Association (AMUOBA), thereby assuming the position of Chancellor at Sir Syed University of Engineering and Technology (SSUET). He succeeds Jawaid Anwar as the university’s fourth Chancellor. SSUET was established in 1993 under the leadership of its founding Chancellor, Engr Z A Nizami. Following his passing in 2013, the role was subsequently held by Engr Adil Usman and Jawaid Anwar. Akbar Ali Khan now takes over this prestigious position, continuing his family’s legacy of service to the institution. The AMUOBA elections, held after a decade, witnessed the Zakir Ali Khan Panel securing victory over the Alig United Panel with a margin of 158 to 130 votes. Following his election, Akbar Ali Khan chaired the first Executive Committee meeting of AMUOBA, during which key office bearers we...

Ambassador explains Chinese role in curbing COVID-19

By Masood Sattar Khan (Pakistan News & Features Services) The Chinese Ambassador to Pakistan, Yao Jing, attended the preparation and response plan of the new crown epidemic on April 24. According to the details shared by the Chinese Embassy in Islamabad, Ambassador Yao Jing was invited to attend the Pakistan New Crown Outbreak Preparation and Response Plan (PPRP) on video conference. The meeting, organized by the Pakistani Ministry of Foreign Affairs, was also attended by Foreign Minister Shah Mahmood Qureshi, Minister of Economic Affairs, Khasro Bakhtiar, Prime Minister’s Health Adviser Dr Zafar Mirza, Chairman of the National Disaster Management Authority, General Muhammad Afzal, WHO Director-General, Tan Desai besides the representatives of World Bank, United Nations, UNICEF, UNHCR, Asian Development Bank, Islamic Development Bank and envoys from more than 20 countries. Besides China, envoys from the United States, the United Kingdom, France, Canada, the European Unio...

Shehri Tv

Search This Blog