Reynolds American (RAI) was one of the worst performers on news the tobacco company will secure $3.5 billion in Lorillard’s (LO) debt as part of its nearly $30 billion merger with the company. Stocks ended the day mixed after a surge in jobs added in May reinforced views of a strengthening economy but triggered speculation over a Federal Reserve rate hike. JPMorgan (JPM) led the Dow after better-than-expected jobs number increased the odds the Fed will raise rates as soon as September. Walmart (WMT) lagged the Dow after electing Greg Penner to be the next chairman of the board to replace Rob Walton.
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