U.S. stocks rose near their record after the latest jobs report cooled worries that a potentially hot U.S. economy could make inflation worse.
The S&P 500 climbed 0.7% Friday and pulled within 1% of its all-time high. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite rose 1.2%.
They got a boost after a report showed U.S. employers slowed their hiring last month. That pushed traders to pare bets that the Federal Reserve will hike interest rates later this month. Treasury yields initially tumbled but later retraced their losses as oil prices recovered most of an early swoon.
On Friday:
The S&P 500 rose 56.27 points, or 0.7%, to 7,722.72.
The Dow Jones Industrial Average rose 250.40 points, or 0.5%, to 51,176.96.
The Nasdaq composite rose 319.27 points, or 1.2%, to 27,190.86.
The Russell 2000 index of smaller companies rose 26.27 points, or 0.9%, to 2,832.90.
For the week:
The S&P 500 is down 20.69 points, or 0.3%.
The Dow is down 651.66 points, or 1.3%.
The Nasdaq is up 122.15 points, or 0.5%.
The Russell 2000 is down 4.66 points, or 0.2%.
For the year:
The S&P 500 is up 877.22 points, or 12.8%.
The Dow is up 3,113.67 points, or 6.5%.
The Nasdaq is up 3,948.87 points, or 17%.
The Russell 2000 is up 350.99 points, or 14.1%.
