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Wall Street Rallies On Heels Of Debt Ceiling Deal, Jobs Report

Posted on AllSides June 2nd, 2023
From The Center

Wall Street signaled relief Friday following Congress' passage of a bill to suspend the debt ceiling through 2024 and avert an economy-cratering default. Investors received another jolt with a better-than-expected jobs report.

In a significant surge, the Dow Jones Industrial Average experienced an uptick of 701 points, for more than a 2% gain. The S&P 500 displayed a notable climb of 1.45%, while the Nasdaq Composite achieved a commendable advancement of 1.07% to its highest peak since April 2022.

The surge comes after a weeks-long battle between President Joe Biden...

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