Stocks closed sharply higher on Wall Street, erasing their losses for the week, after the government reported a cooldown in hiring last month.
For markets that was a welcome sign that the Federal Reserve’s efforts to fight inflation by slowing the economy with high interest rates might be making some progress. The S&P 500 rose 1.3% Friday, its biggest gain since February. The Dow Jones Industrial Average rose 1.2%. and the Nasdaq composite climbed 2%.
U.S. employers added 175,000 jobs last month, down sharply from a big increase in March. Apple jumped after announcing a mammoth $110 billion stock buyback.
On Friday:
The S&P 500 rose 63.59 points, or 1.3%, to 5,127.79.
The Dow Jones Industrial Average rose 450.02 points, or 1.2%, to 38,675.68.
The Nasdaq composite rose 315.37 points, or 2%, to 16,156.33.
The Russell 2000 index of smaller companies rose 19.61 points, or 1%, to 2,035.72.
For the week:
The S&P 500 is up 27.83 points, or 0.5%.
The Dow is up 436.02 points, or 1.1%.
The Nasdaq is up 228.43 points, or 1.4%.
The Russell 2000 is up 33.72 points, or 1.7%.
For the year:
The S&P 500 is up 357.96 points, or 7.5%.
The Dow is up 986.14 points, or 2.6%.
The Nasdaq is up 1,144.98 points, or 7.6%.
The Russell 2000 is up 8.65 points, or 0.4%.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
