U.S. stocks rose to more records after a report on the job market bolstered hopes that interest rates may soon get easier
U.S. stocks rose to more records after a report on the job market bolstered hopes that interest rates may soon get easier.
The S&P 500 climbed 0.5% to set an all-time high for a third straight day and close its ninth winning week in the last 11. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite added 0.9% to its record.
Treasury yields sank following the jobs data, which reinforced belief on Wall Street that the U.S. economy will stay in a not-too-hot but not-too-cold state and that the Federal Reserve will cut rates later this year.
On Friday:
The S&P 500 rose 30.17 points, or 0.5%, to 5,567.19.
The Dow Jones Industrial Average rose 67.87 points, or 0.2%, to 39,375.87.
The Nasdaq composite rose 164.46 points, or 0.9%, to 18,352.76.
The Russell 2000 index of smaller companies fell 9.90 points, or 0.5%, to 2,026.73.
For the week:
The S&P 500 is up 106.71 points, or 2%.
The Dow is up 257.01 points, or 0.7%.
The Nasdaq is up 620.16 points, or 3.5%.
The Russell 2000 is down 20.96 points, or 1%.
For the year:
The S&P 500 is up 797.36 points, or 16.7%.
The Dow is up 1,686.33 points, or 4.5%.
The Nasdaq is up 3,341.41 points, or 22.3%.
The Russell 2000 is down 0.35 points, or less than 0.1%.
Source: abcNEWS
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