U.S. stocks soared Friday after a much better-than-expected employment report for November from the Labor Department which saw the economy create 266,000 new jobs, the most since January, and the unemployment rote fell to 3.5%, a 50 year low.
The Dow Jones Industrial Average rose 337 points, or 1.2%, at 28,016 while the S&P index gained 31 points, or 1%, to 3,149, and Nasdaq advanced 91 points at 8,661, a rise of 1.0% also.
The U.S. economy created 266,000 new jobs in November, the Labor Department reported, the biggest gain since January, signaling the labor market remains robust even though economic growth has slowed. The government also revised the increase in new jobs in October to 156,000 from 128,000 and September’s gain was raised to 193,000 from 180,000.
Shares of Apple Inc surged 1.8%, to trade at $270.29 a share, above its record closing price of $26.74, set last week.
MacDailyNews Take:
