5/8, 3:30 PM (Source: TeleTrader)
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Wall Street opens higher despite unemployment surge

Markets in the United States opened with gains on Friday as hopes of the economy reopening outweighed the worst jobs report since the end of World War II, which showed that 20.5 million nonfarm jobs were lost in April amid the coronavirus crisis and the unemployment soared to 14.7%. Stocks were also supported by signs tensions between the US and China may ease as the two countries vowed to work on implementin their phase one trade deal.

The Dow Jones rose 1.34% at 9:30 am ET. The best performer was Walt Disney, whose shares jumped 2.85% at 9:31 am ET.

The Nasdaq 100 added 0.68% at 9:30 am ET with United Airlines, up 3.23% at 9:31 am ET, leading the gains.

The S&P 500 climbed 1.13% at 9:30 am ET as News Corp rallied 9.90% at 9:46 am ET.

The euro was flat against the dollar, going for $1.08327 at 9:32 am ET.

Breaking the News / NP