Unemployment rate hits 6 percent in April downturn
The U S unemployment rose to six percent in April, the rate at an eight year high as payrolls fell by 48 000 and 8 8 million remained unemployed. Manufacturing airlines and retail bore the heaviest cuts while optimism surfaces from lower gasoline prices and a firmer stock market.
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Stocks surge as optimism lifts Nasdaq and Dow on mixed jobs data
The Nasdaq ended at its highest in 10 months as investors cheered factory orders and cautious optimism about a rebound. Dow gains 128.43 and S&P 500 climbs while unemployment rose to 6 percent in April. Airline stocks rise after Merrill Lynch upgrade.
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Oil futures end lower after weak rally attempt
New York crude futures closed down as an early rally faltered and trading volume remained light. June crude eased to 25.67 a barrel after peaking near 26.60, with gasoline and heating oil also slipping amid lingering oversupply concerns linked to OPEC output cuts taking effect June 1.
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