The stock market was right | Will the rally continue next week? | Biden secures nomination

A surprise increase in jobs in May shows the fast-recovering stock market may be right, after all.

VIEW IN BROWSER | SUBSCRIBE SAT, JUN 06, 2020 WEEKEND BRIEF EDITOR'S NOTE If you thought the market was overheated, Friday's unemployment report showing the economy actually added 2.5 million jobs has really fired up the burners.   The S&P 500 has turned a profit for 2020 when including dividends. And the Nasdaq Composite became the first of the three major averages to not only erase its losses but climb back to a record intraday high on Friday.   Aren't we still in a pandemic and a nation rife with civil unrest and millions of unemployed workers?   In this edition of Evening Brief, CNBC's senior markets commentator Michael Santoli says that for now the reality gap between a dismal economy and a booming stock market is narrowing.    CNBC's Jeff Cox writes that this surprise increase in jobs has economists talking about a V-shaped recovery once again. If indeed the economy is bouncing back sharply from the coronavirus pandemic, it might be the sharpest, but shortest downturn in history.   Next week, stocks are likely to continue to bound higher as the Federal Reserve convenes another two-day meeting. Federal Reserve Chairman Jerome Powell should continue working his magic, assuring investors that the central bank is still ready to do whatever it takes to bolster the economy, writes CNBC's Patti Domm.   There remains no cure for Covid-19, the disease continues to spread across the nation, and there could well be a shocking second wave in the future. But investors who fretted these worries, and thought stocks were getting ahead of themselves, clearly missed out.   Said Mitchell Goldberg, head of ClientFirst Strategy, "The stock market had it right the whole time."   Thanks for reading Weekend Brief.  Email your thoughts to EveningBrief@nbcuni.com or follow me on Twitter @tellittoal.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal MICHAEL SANTOLI'S MARKET COLUMN The widely cited 'disconnect' between Wall Street and Main Street suddenly appears less confounding   THE WEEK AHEAD Look for the S&P 500 to turn positive for the year with a boost from the Fed in the week ahead   ACTIVIST SPOTLIGHT An occasional activist battles a struggling chemical company for control   YOUR WEEKEND BRIEFING  All of a sudden, people are talking about a V-shaped recovery again: 'The stock market had it right' Buy 'top picks' like Qualcomm and CrowdStrike as the economy reopens, analysts say Biden secures Democratic presidential nomination for November showdown against Trump DraftKings emerges as unlikely winning stock even as pandemic cancels most sports OPEC and allies reportedly agree to extend record production cut Mark Zuckerberg responds to upset Facebook employees, pledges to build products to 'advance racial justice' Jeff Bezos responds to Amazon customer who was angry over Black Lives Matter message: 'My stance won't change' Buyout firm Sycamore Partners in talks to buy JC Penney, sources say NFL condemns racism, admits 'we were wrong' not to listen to NFL player protests Citigroup executive Ray McGuire discussed potential NYC mayor run with political strategists     Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS