Stocks closed broadly higher on Wall Street Friday after solid gains in hiring last month allayed some of investors’ concerns that the economy was slowing down.
The broad gains erased nearly all the significant losses the market suffered earlier in the week after dismal news on U.S. manufacturing and service industries stoked fears of slower economic growth.
The S&P 500 rose 41.38 points, or 1.4%, to 2,952.01.
The Dow Jones Industrial Average climbed 372.68 points, or 1.4%, to 26,573.72.
The Nasdaq composite gained 110.21 points, or 1.4%, to 7,982.47.
The Russell 2000 index of smaller company stocks rose 14.36 points, or 1%, to 1,500.70.
For the week:
The S&P 500 fell 9.78 points, or 0.3%.
The Dow lost 246.53 points, or 0.9%.
The Nasdaq gained 42.85 points, or 0.5%.
The Russell 2000 dropped 19.78 points, or 1.3%.
For the year:
The S&P 500 is up 445.16 points, or 17.8%.
The Dow is up 3,246.26 points, or 13.9%.
The Nasdaq is up 1,347.20 points, or 20.3%.
The Russell 2000 is up 152.14 points, or 11.3%.
The Associated Press