Stocks are closing at record highs on Wall Street Friday as a stunningly disappointing report on the nation’s job market signaled to investors that interest rates will stay low.
The S&P 500 and The Dow Jones Industrial Average both closed at record highs. Voices up and down Wall Street acknowledged that Friday morning’s jobs report was a massive shock, and it jolted the bond market. But many still expect the economy to keep strengthening. Stocks that have benefited most from low rates, including high-growth tech companies, helped drive the gains.
The S&P 500 rose 30.98 points, or 0.7%, to 4,232.60.
The Dow Jones Industrial Average rose 229.23, or 0.7%, to 34,777.76.
The Nasdaq rose 119.39 points, or 0.9%, to 13,752.24.
The Russell 2000 index of smaller companies rose 30.21 points, or less than 1.3%, to 2,271.63.
For the week:
The S&P 500 is up 51.43 points, or 1.2%.
The Dow is up 902.91 points, or 2.7%.
The Nasdaq is down 210.44 points, or 1.5%.
The Russell 2000 is up 5.18 points, or 0.2%.
For the year:
The S&P 500 is up 476.53 points, or 12.7%.
The Dow is up 4,171.28 points, or 13.6%.
The Nasdaq is up 863.96 points, or 6.7%.
The Russell 2000 is up 296.77 points, or 15%.
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