NEW YORK CITY: US stocks roared higher Friday after jobs growth in October widely topped forecasts despite the 16-day partial federal government shutdown.
At the closing bell, the Dow Jones Industrial Average was up 166.98 points (1.07 percent) at 15,760.96.
The broad-based S&P 500 Index advanced 23.33 (1.34 percent) to 1,770.48, while the tech-rich Nasdaq Composite added 61.90 (1.60 percent) at 3,919.23.
The Labor Department reported the US economy added 204,000 jobs in October, double what analysts forecast, and revisions to the previous two months added another 60,000 jobs.
"The upbeat employment report is adding to yesterday's favorable 3Q GDP release, possibly soothing concerns about a potentially sooner-than-expected beginning of the deceleration in stimulus measures by the Federal Reserve," Charles Schwab & Co. said in a market note.
Comments
Comments are closed.