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VOL. 45 | NO. 19 | Friday, May 7, 2021

Stocks rally to records after grim jobs data undercuts rates

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Stocks are closing at record highs on Wall Street Friday as a stunningly disappointing report on the nation's job market signaled to investors that interest rates will stay low.

The S&P 500 rose 0.7%, above its record closing level set at the end of last month.

Voices up and down Wall Street acknowledged that Friday morning's jobs report was a massive shock, and it jolted the bond market. But many still expect the economy to keep strengthening.

Stocks that have benefited most from low rates, including high-growth tech companies, helped drive the gains.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0