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Dow jumps more than 800 points, Nasdaq hits a record after surprise jobs surge boosts recovery bets - MSN Money
Jun 05, 2020 57 secs

Stocks were lower on Thursday, giving back some of the strong gains for June, as Wall Street grappled with disappointing jobs data and a late-day sell-off in tech shares.

Earlier in the session, the Nasdaq-100 index — which is made up of the 100-largest nonfinancial stocks in the Nasdaq Composite — hit an intraday record.

19 to March 23, the Nasdaq-100 plummeted more than 30%.

The Dow is up 3.5% week to date while the S&P 500 has gained 2.2%.

The Nasdaq Composite has advanced 1.3% this week.  .

Since March 23, the S&P 500 has surged more than 42% while the Dow has gained over 43% in that time period?

The Nasdaq Composite is up more than 46% since hitting its late-March low.

"The market is trading on extreme optimism like I've never seen in my career," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.

"I've never seen the market trade on this kind of euphoria without real data to back it up.".

The market either knows something we don't or we're trading on extreme optimism."

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