How major US stock indexes fared Friday

Stocks closed broadly higher Friday as investors bet that a report showing the U.S. added fewer jobs than expected last month increases the odds that the Federal Reserve will cut interest rates in coming months.

The rally capped a week of gains that gave the benchmark S&P 500 index its best week since late November and reversed most of the market's losses in May.

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On Friday:

The S&P 500 index rose 29.85 points, or 1.1%, to 2,873.34.

The Dow Jones Industrial Average gained 263.28 points, or 1%, to 25,983.94.

The Nasdaq composite climbed 126.55 points, or 1.7%, to 7,742.10.

The Russell 2000 index of smaller companies picked up 10.85 points, or 0.7%, to 1,514.39.

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For the week:

The S&P 500 gained 121.28 points, or 4.4%.

The Dow rose 1,168.90 points, or 4.7%.

The Nasdaq climbed 288.95 points, or 3.9%.

The Russell 2000 added 48.90 points, or 3.3%.

For the year:

The S&P 500 is up 366.49 points, or 14.6%.

The Dow is up 2,656.48 points, or 11.4%.

The Nasdaq is up 1,106.82 points, or 16.7%.

The Russell 2000 is up 165.83 points, or 12.3%.

FBI Loses Fight to Keep Portions of Comey-Trump Memos Secret

A federal judge ordered the FBI to make public some blacked-out portions of memos written by James Comey, the agency’s former director, about his dealings with President Donald Trump.

U.S. District Judge James Boasberg in Washington refused a request by CNN to remove redactions from the parts of the memos that the Federal Bureau of Investigation said reveal its investigative methods and practices. But the judge rejected most of the redactions that the FBI made on the grounds of national security.

In one of the memos at issue, Comey recounted how the president was upset with his national security adviser at the time, Michael Flynn, for failing to tell him about some of the congratulatory phone calls he got from foreign leaders after his election.

The names of the leaders were redacted by the FBI. But the judge ordered all but one of them to be un-redacted, saying that he couldn’t see how the release of those names could harm national security.

The one name he allowed to remain blacked out was of an apparent world leader whom Trump disparaged, saying, according to Comey, that, unlike the other foreign leaders, he wasn’t worth a call back.

Democrats in Iowa, Tony Awards, Stanley Cup Final: 5 things to know this weekend

19 Democratic candidates will take on Iowa

Several weeks before the first televised debate, the 2020 Democratic presidential candidates will get another opportunity Sunday to break out and separate themselves from the pack. In what will be the largest affair of the 2020 Iowa caucus cycle so far, 19 of the 24 candidates will descend on a Cedar Rapids ballroom for the Iowa Democratic Party Hall of Fame event. Front runners such as Senators Bernie Sanders (Vermont), Elizabeth Warren (Massachusetts), Kamala Harris (California), Cory Booker (New Jersey) and South Bend, Ind., Mayor Pete Buttigieg are scheduled to attend the event that will only allow each person five minutes to address the room. Former Vice President and current front runner Joe Bidenwill be conspicuously absent from the event. For the second straight weekend, Biden will skip a high-profile party get together as he also chose not to attend the California Democratic Convention, which drew 14 other candidates. 

Japan's Aso says US-China trade uncertainty could hurt market confidence

FUKUOKA, Japan, June 8 (Reuters) – Japanese Finance Minister Taro Aso said on Saturday that uncertainty over U.S.-China trade friction, if not resolved early enough, could hurt market confidence in the outlook for the global economy.

“The global economy is faced with various downside risks. But global growth is likely to recover in the latter half of this year through next year,” Aso told reporters after the first day of a two-day meeting of Group of 20 finance leaders in Fukuoka, southern Japan. (Reporting by Leika Kihara; Editing by Chris Gallagher)

Japan's Aso says US-China trade uncertainty could hurt market confidence

FUKUOKA, Japan (Reuters) – Japanese Finance Minister Taro Aso said on Saturday that uncertainty over U.S.-China trade friction, if not resolved early enough, could hurt market confidence in the outlook for the global economy.

“The global economy is faced with various downside risks. But global growth is likely to recover in the latter half of this year through next year,” Aso told reporters after the first day of a two-day meeting of Group of 20 finance leaders in Fukuoka, southern Japan.

German Fin Min says G20 ministers agree on minimum taxation

FUKUOKA, Japan, June 8 (Reuters) – Finance Ministers at a Group of 20 meeting in Japan are agreed that minimum taxation is a good idea, German Finance Minister Olaf Scholz said on Saturday, adding that it would come.

He said this would mean higher tax revenues for everyone, including Germany. (Reporting by Christian Kraemer Writing by Madeline Chambers in Berlin; Editing by Elaine Hardcastle)

Iran condemns new US sanctions on petrochemicals

Iran has condemned new U.S. sanctions targeting its petrochemical industry, saying they prove President Donald Trump is not serious about pursuing negotiations.

Foreign Ministry spokesman Abbas Mousavi was quoted by state TV on Saturday as saying the move amounts to "economic terrorism" and is in line with other hostile American policies.

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On Friday, the Trump administration imposed sanctions on Iran's largest petrochemical company for allegedly doing business with the paramilitary Revolutionary Guard, which the White House branded a terrorist organization in April.

Trump has ramped up sanctions on Iran since withdrawing the United States from Iran's 2015 nuclear accord with world powers last year, while saying as recently as this week that he is open to talks with Tehran.