Stocks on Wall Street jumped despite historic job losses suffered by the economy
The Nasdaq posted its fifth straight daily gain, its longest such streak since December 2019.
Stocks have staged a sharp rebound since late March from the coronavirus-fueled sell-off, helped by massive monetary and fiscal stimulus. The tech-heavy Nasdaq on Thursday erased its 2020 declines and turned positive for the year. “On the margin, you are starting to hear businesses say that things are starting to look better from a depressed level.”
Noble Energy shares gained 13.5% after the company said on Friday it would curtail oil production and further cut its capital spending to cope with a plunge in oil prices.
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