Market Review: 6/5/20

By Steven Doll, Portfolio Strategist

The stock market rose sharply for the week ending June 5th amid an unexpected increase of 2.5 million jobs in the month of May, lowering the unemployment rate from 19.0% to 13.3%. Interest rates also shot higher as the 10-year treasury yield jumped from 0.65% to 0.91%, while the 2-year treasury yield rose from 0.16% to 0.22%. The price of gold fell over 3.0% on the week as rising stock market confidence lowers the demand for the safe-haven metal. Meanwhile crude oil continues its climb out of a deep hole, rising nearly 7.0% on the week as oil production continues to drop. However, the price for a barrel is still down over 35% so far this year.

Year-to Date Return (as of 06/05/2020)