Wall Street’s main indexes advanced on Friday, as investors took comfort from data that showed U.S. jobs growth slowed less than expected in October and China’s factory activity expanded at its fastest pace in more than two years.
Eight of the 11 major S&P 500 sectors were trading higher on Friday, with the technology sector .SPLRCT, led by Apple Inc, providing the biggest boost.
The Labor Department’s closely watched monthly employment report also showed hiring in the prior two months was stronger than previously estimated, offering some assurance that consumers would continue to support the slowing economy.
On the trade front, U.S. Commerce Secretary Wilbur Ross said the initial “phase one” trade pact with China appears to be in good shape and is likely to be signed around mid-November, although a finite date is still in question.
MacDailyNews Take: Apple is currently valued at $1.144 trillion!