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Stocks jump as jobs data soothes US recession worries | The Malaysian Insight

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Stocks jump as jobs data soothes US recession worries

Oil prices rise, with the main US contract rising back above US$70 per barrel, lifted by strong jobs data. – AFP pic, May 6, 2023.

DATA showing that the US economy added more than a quarter of a million jobs last month soothed recession worries yesterday, bringing a rebound in stocks including for troubled midsized American banks. Just a day before, equities took a lashing over worries surrounding the economic impact of interest rate hikes – including on smaller US lenders.

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