S&P 500 Rises to a Record Close Friday, Posts Third Straight Winning Week
The S&P 500 and Nasdaq Composite rose to fresh records on Friday after November jobs data came in slightly better than expected, but not so hot as to deter the Federal Reserve from cutting rates again later this month.
The broad market S&P 500 climbed 0.25% to 6,090.27. Tech-heavy Nasdaq advanced 0.81% to 19,858.77, bolstered by gains in Tesla, Meta Platforms and Amazon. Both indexes touched new all-time highs during the session and closed at records. The Dow Jones Industrial Average slipped 123.19 points, or 0.28%, to close at 44,642.52.
The S&P 500 and Nasdaq went on to their third straight positive week, as well, rising by 0.96% and 3.3%, respectively. The Dow slipped 0.6% in the period.
The November labor report, released on Friday morning, revealed that nonfarm payrolls increased by 227,000 last month, above the Dow Jones estimate of 214,000 and marking a huge hike from October’s upwardly revised gain of 36,000. The unemployment rate nudged up to 4.2%, as expected.
Source : CNBC
