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Stocks rose on Friday after an expectation-defying jobs report gave investors confidence around the health of the economy.
The Dow Jones Industrials surged 341.16 points to 42,352.75.
The S&P 500 index picked up 51.13 points to 5,751.07.
The NASDAQ Composite hiked 219.37 points, or 1.2%, to 18,137.85.
Friday’s bounce helped erase losses seen in recent days. Mounting geopolitical tensions in the Middle East gave way to a shaky start in October for stocks, a turn after the market posted an unusually strong first nine months of the year.
The S&P 500 500 was up 0.1% on the week, while the Dow and Nasdaq flickered around flat.
Tesla, Amazon and Netflix were among the megacap tech names climbing on Friday, explaining the NASDAQ’s outperformance.
Stocks initially popped after data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted gain of 150,000 from economists polled by Dow Jones. The unemployment rate ticked down to 4.1% despite expectations for it to hold steady at 4.2%.
Prices for the 10-year Treasury dropped making yields pop to 3.97% from Thursday’s 3.85%. Treasury prices and yields move in opposite directions.
Oil prices improved 76 cents to $74.47 U.S. a barrel.
Gold prices fell $8.20 to $2,671 U.S. an ounce
