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Dow Has Best June Since 1938

For the day, Dow is up 73
By Newser Editors and Wire Services
Posted Jun 28, 2019 3:05 PM CDT
In this June 18, 2019, photo, trader Peter Tuchman, left, works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks rose on Wall Street Friday as investors closed out a wobbly week ahead of key trade talks between the US and China. Every major index closed the month and quarter with solid gains, per the AP. In fact, the Washington Post notes that the Dow Jones Industrial Average had its best June since 1938, when it rose 24%, the S&P 500 its best since 1955, and the Nasdaq its best 2000. For the day, the S&P rose 16 points to 2,941, the Dow rose 73 points to 26,599, and the Nasdaq rose 38 points to 8,006.

Bank of America climbed 2.8% Friday and JPMorgan Chase added 2.7%. The industry rose after the Federal Reserve gave the country's 18 biggest banks permission to pay more dividends and buy back more of their own stock. Bond prices didn't move much. The yield on the 10-year Treasury held steady at 2%. (Read more stock market stories.)

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