Stocks end sharply higher after jobs report; Nasdaq closes at record
Stocks ended sharply higher on Friday after the February employment report showed a strong jobs number but muted wage gains, easing concerns about a flare-up in inflationary pressures. S&P 500 rose 48 points, or 1.7%, to 2,787. Dow Jones Industrial Average advanced 441 points, or 1.8%, to 25,336. The Nasdaq Composite Index climbed 133 points, or 1.8%. For the week, the S&P 500 was up by 3.5%, the Dow up by 3.3%, and the Nasdaq up by 4.2%. The tech-heavy Nasdaq notched its first closing record since Jan. 26. All three benchmark indexes posted their best weekly performance in three weeks. The U.S economy added 313,000 jobs in February, the biggest gain since mid-2016, while average hourly earnings rose by 0.1%.