The S&P 500 and NASDAQ Composite rose to fresh intraday highs 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 Dow Jones Industrial index subsided 123.19 points to end the day at 44,642.52
The much-broader index gained 15.16 points to 6,090.27
The NASDAQ Composite surged 159.05 points to 19,816.37, bolstered by a 3% gain in Tesla and 2% gains in Meta and Amazon.
The November labor report, released on Friday morning, revealed that non-farm payrolls increased by 227,000 in November, above the Dow
Jones estimate of 214,000 and marking a huge hike from October’s gain of just 12,000. The unemployment rate nudged up to 4.2%, as expected.
Prices for the 10-year Treasury hiked, lowering yields to 4.15% from Thursday’s 4.18%. Treasury prices and yields move in opposite directions.
Oil prices lost $1.12 to $67.18 U.S. a barrel.
Prices for gold regained $6.70 an ounce to $2,655.10 U.S.
