Peter Maurice & Tregg Rustad

  • Sela Russo
  • 06/5/23

📈 Stock markets surged on Friday to close the week higher! The Dow gained 701 points, a 2.1% increase, while the S&P and Nasdaq jumped 1.45% and 1.07% respectively. Congress passed a deal to increase the debt ceiling for two years. The Nasdaq closed the week at 13,240.77, up 2% from 12,975.69 last week. It is up 26.5% year-to-date.

🏠 The 30-year fixed mortgage rate is now 6.79%, up from 6.57% last week, as reported by the Freddie Mac Primary Mortgage Survey.

💼 In May, 339,000 new jobs were created, nearly double economists' expectations. Job gains have been exceeding expectations for 14 straight months! Average hourly wages rose by 4.3% compared to last year.

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