Wall Street closed out the holiday-shortened week with a bang. U.S. stocks bagged major gains after a blowout jobs report brought relief over the state of the U.S. economy. A dismal May jobs number had sparked concern the economy was in worse shape than expected. Crude oil closed the week with losses of seven percent. The commodity held slight gains through to Friday's close after a weekly read on active U.S. oil rigs showed an increase for the fifth week in six. Chemours (CC) rose after a jury decided DuPont (DD) would pay a light $500,000 in punitive damages in a chemical dumping lawsuit. Chemours, a spinoff of DuPont, had previously agreed to pay the costs. Alcoa (AA) rallied ahead of its earnings report on Monday. The aluminum producer is widely seen as the unofficial kickoff to each earnings season. The earnings recession is expected to extend into the second quarter. TheStreet's Keris Lahiff reports from Wall Street.
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