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US stocks up on jobs data, China hopes; Tesla jumps
Business World Philippines
|June 09, 2025
US stocks closed higher on Friday after a better-than-expected jobs report calmed worries about the economy, while Tesla bounced, clawing back some losses from a sharp plunge the previous session.
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The S&P 500 closed above 6,000 for the first time since Feb. 21, fueled by gains in technology shares.
Investors cheered news citing President Donald J. Trump as saying three cabinet officials will meet representatives of China in London on June 9 to discuss a trade deal.
"The market will chase the trade deal carrot any time it’s available. The trick is whether any actual deal gets done," said Jamie Cox, managing partner at Harris Financial Group.
On Thursday, Mr. Trump and Chinese leader Xi Jinping spoke, after weeks of trade tensions and a battle over critical minerals. They left key issues unresolved for future talks.
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