December 2, 2021

Stocks rose on Friday and the S&P 500 hit another record high after the June jobs report showed an accelerating recovery for the U.S. labour market.

The Dow Jones Industrials jumped 152.82 points to close the day and the week at 34,786.35.

The S&P 500 added 32.4 points to 4,352.34. The S&P 500 has now risen for seven consecutive sessions, its longest winning streak since

August.

The NASDAQ popped 116.95 points to 14,635.33, also an all-time peak.

Solid moves by major tech stocks helped support the overall market on Friday, with shares of Apple gaining 2{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, and Salesforce rising by nearly 1.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}.

For the week, the NASDAQ rose 2{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, while the S&P 500 soared 1.7{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, and the Dow climbed 1.1{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}.

On Friday, shares of Boeing fell 1.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, weighing on the Dow, after a 737 cargo plane made an emergency landing off the coast of Honolulu. IBM’s stock fell 4.6{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} after the company announced that president and former Red Hat CEO Jim Whitehurst was stepping down.

The U.S. markets will be closed on Monday for the July 4 holiday.

The U.S. economy added 850,000 jobs last month, according to the Bureau of Labor Statistics. Economists surveyed by Dow Jones were expecting an addition of 706,000. The print topped the 559,000 jobs created in May.

The unemployment rate did come in at 5.9{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, higher than expected.

Prices for 10-Year Treasurys gained ground, lowering yields to 1.43{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} from Thursday’s 1.47{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}. Treasury prices and yields move in opposite directions.

Oil prices lost two cents to $75.21 U.S. a barrel.

Gold prices acquired $11.60 to $1,788.40 U.S. an ounce.

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