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U.S. employment was reported to have slowed down last month following the Labor Department’s jobs report Friday, leading Wall Street to optimism about potential interest rate cuts from the Federal Reserve.
The S&P 500 was up 1.3% in midday trading to 2,880.65.
The Dow Jones Industrial Average rose 1.2% to 26,029.77.
The Nasdaq jumped 1.8% to 7,753.83.
The yield on a 10-year Treasury bond declined 2.4% to 2.08%.
The price of gold rose 0.4% to $1,347.
The price of oil was up 2.3% to $53.78 a barrel.
Alteryx Inc. (NYSE: AYX) in Irvine was up 4.7% to $95.48 with a market cap of $6 billion. A senior stock strategist for Zacks Research in an article today called Alteryx “bull of the day,” and said he’s bought shares recently. Shares have climbed about 61% this year and about six-fold since its 2017 IPO.
Newport Beach-based Evolus Inc. (Nasdaq: EOLS) was down 7% to $15.62 with a market cap of $427 million. Its management spoke late on June 5 at the Jefferies 2019 Healthcare Conference in New York. Shares of Evolus, which makes a competitor to Botox, have declined 46% since late April when it reported first quarter results.