US bourse surges on hope of swift economic recovery
Picture: REUTERS/SHANNON STAPELTON
The benchmark S&P 500 and the Dow are now 5.5% and 7.4% away from their respective closing highs, after surging more than 45% from their pandemic lows.A closely watched monthly jobs report on Friday showed an unexpected fall in unemployment rate, bolstering views that the worst of the economic damage from the virus outbreak was over.
The energy sector climbed 2.8%, the most among the 11 major S&P sectors as major oil producers agreed to extend a deal on record output cuts over the weekend.
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