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Wall Street rises on better-than-feared jobs report, easing Sino-US tension

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US stock markets gained on Friday after data showed the economy lost fewer jobs in April than feared due to the coronavirus crisis, adding to optimism from an easing in friction between Washington and Beijing.

All the 11 S&P sectors were trading higher, with the defensive real estate, utilities and consumer staples indexes posting some of the biggest gains.

Official figures showed nonfarm payrolls plummeted 20.5 million in April - their steepest plunge since the Great Depression - but the number was still better than the 22 million forecast by economists polled by Reuters. "There were whispers that the number could come in much worse," said Darrell Cronk, chief investment officer at Wells Fargo Wealth & Investment Management in New York. "

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