Trump encourages Dow's best week of the year

The Dow Jones Industrial Average Index climbed more than 250 points on Friday, putting an end to the best week of the index, while poor economic news prompted speculation that the Federal Reserve would fall interest rates.

Lower rates make borrowing cheaper for businesses, stimulating investment in new projects and repaying higher-rate debt. The blue chips index closed at 25,983, a weekly gain of 4.7%, still below the highs reached earlier this year.

The broad S & P 500 and high-tech Nasdaq rose by 4.4% and 3.9% respectively. The three main indices are often considered as a measure of the US stock market as a whole.

President Trump celebrated the rise of the index on his return from a week in Europe where he commemorated the 75th anniversary of D – Day.

The news arrived a few hours after the administration had announced that the US economy had only created 75,000 jobs in May, the second time in four months that job growth was less than 100,000.

Economists at major investment banks said the poor gains would likely prompt Federal Reserve Chairman Jerome Powell to follow up on hints that the central bank would cut rates, especially if Trump were imposing rights. that he had threatened on Mexican products. This would have intensified an already sprawling trade war.

Late Friday night, however, the White House announced that a last-minute deal in which Mexico had agreed to help curb illegal immigration across the US border had rendered rights useless.