*WALL STREET ENDS FIRST DAY OF THIRD QUARTER WITH 1% RALLY - *U.S. STOCK MARKETS WILL BE CLOSED MONDAY FOR THE FOURTH OF JULY 🇺🇸🇺🇸
© Reuters. Traders work on the floor of the New York Stock Exchange in New York City, U.S., June 30, 2022. REUTERS/Brendan McDermid/FilesNEW YORK - Wall Street bounced back to a sharply higher close in light trading on Friday as investors embarked on the second half of the year ahead of the long holiday weekend.
All three major U.S. stock indexes reversed early losses to end in well into positive territory in the wake of the stock market's worst first half in decades."We're headed into the holiday weekend and having a late-day relief rally," said Joseph Sroka, chief investment officer at NovaPoint in Atlanta."But we’ll likely have to wait until investors return from the holiday weekend to see if it’s sustainable at the start of the new quarter.
Market participants now look to the second-quarter earnings season, the Labor Department's June employment report, and the Federal Reserve's monetary policy meeting expected later in July.
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