Stocks rallied on Friday after an unexpected surge in U.S.jobs raised hope that the economy is starting to recover from the coronavirus pandemic.
Yesterday, the Dow closed 11.93 points higher to 26,281.82 while the S&P 500 dropped 10.52 points, or 0.3%, to finish the session at 3,112.35.
The MSCI All-Country World Index fell 0.4%.
Equity futures rose in Japan, Hong Kong and Australia.
The euro gained 0.32% at $1.204 while the pound sterling rose 0.2% at $1.2575.
The European Central Bank is expected to top up its rescue program with an additional 500 billion euros of asset purchases at a meeting on Thursday. US futures opened flat.
In Asia, the Hong Kong authorities showed restraint as thousands of people defied a police ban to join a candlelight vigil Thursday marking the 31st anniversary of China's crushing of a democracy movement in Beijing's Tiananmen Square. Microsoft and Apple are Wall Street's most valuable companies.
Most attention is focused on USA unemployment data coming later Friday, analysts said.
Elsewhere, both European and Asian markets closed higher due to improved expectations surrounding the United States jobs report for the month of May.
The S&P 500 is now down just 5.7% from its record set in February after being down almost 34% earlier this year when recession worries were peaking.
The Nasdaq Composite, which is more closely watched than the Nasdaq 100, is just about 2% below its own record high, while the S&P 500 and Dow Jones indices are 8% and 11% below their respective all-time highs.
Meanwhile, the number of Americans drawing unemployment benefits ticked up to 21.5 million in the week ended May 23, though the pace of increase significantly slowed from earlier in the crisis, the Labor Department said. That hope has been a big reason for the better than 40% rally for the S&P 500 since late March.
That would raise the nationwide unemployment rate to 19.5%, a level topped only during the worst years of the Great Depression when the jobless rate was estimated to have hit 25%.
The yield on the 10-year Treasury rose to 0.88% from 0.82% late Thursday.
This area of the market was much earlier than stocks to give warning about the coming economic devastation from the coronavirus outbreak.
Oil prices tailed off 45 cents to $36.84 US a barrel.
Oil looked set for its sixth weekly gain after OPEC+ reached a tentative agreement to extend record production cuts.
Boeing Co surged 11.5 per cent, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc and United Airlines said they would boost their U.S. flight schedule next month.
WTI crude fell 0.4% to $37.13 a barrel.
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