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P 500 Index rose for the second week in a row after the unemployment rate fell to 3. 8 percent in May, the lowest in nearly half a century. The jobs data underscored that the economy is strong enough to withstand another rate hike when the Federal Reserve meets later this month. Investors remain optimistic that threats of more international tariffs will not materialize into an all-out trade war between the U. Dan Heckman, a fixed-income strategist at U. Bank Wealth Management, said by phone.