A surprisingly strong U.S. jobs report put investors in a buying mood Friday.
A surprisingly strong U.S. jobs report put investors in a buying mood Friday, driving stocks on Wall Street broadly higher and extending the market’s winning streak to a third day.
The Labor Department said employers added 266,000 positions, well above estimates of 184,000. The report also showed unemployment falling to a 50-year low. Separately, an index that measures how consumers feel about the economy showed an increase from last month.The encouraging reports offer reassurance for investors who may have been worried that consumers might be pulling back on spending, said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.
The Dow climbed 337.27 points, or 1.2%, to 28,015.06. The Nasdaq gained 85.83 points, or 1%, to 8,656.53.Friday’s batch of encouraging economic data capped what started as a rough week for the market.
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