Stocks posted solid gains on Wall Street as a strong report on employment showed the U.S. economy continues to chug along
Stocks posted solid gains on Wall Street as a strong report on employment showed the U.S. economy continues to chug along.
The S&P 500 rose 1.1% Friday. The Dow Jones Industrial Average rose 307 points and the Nasdaq composite rose 1.2%.
U.S. employers added a surprisingly strong number of jobs in March, while modest gains in wages eased some fears of a renewed spike in inflation. Wall Street is still betting the Federal Reserve will start cutting interest rates in June. Treasury yields rose in the bond market.
On Friday:
The S&P 500 rose 57.13 points, or 1.1%, to 5,204.34.
The Dow Jones Industrial Average rose 307.06 points, or 0.8%, to 38,904.04.
The Nasdaq composite rose 199.44 points, or 1.2%, to 16,248.52.
The Russell 2000 index of smaller companies rose 9.64 points, or 0.5%, to 2,063.47.
For the week:
The S&P 500 is down 50.01 points, or 1%.
The Dow is down 903.33 points, or 2.3%.
The Nasdaq is down 130.94 points, or 0.8%.
The Russell 2000 is down 61.08 points, or 2.9%.
For the year:
The S&P 500 is up 434.51 points, or 9.1%.
The Dow is up 1,214.50 points, or 3.2%.
The Nasdaq is up 1,237.17 points, or 8.2%.
The Russell 2000 is up 36.40 points, or 1.8%.