U.S. Markets closed

US Indexes Close Higher Friday After Jobs Report

The Dow Jones Industrial Average closed at 28,015.06 on Friday with a gain of 337.27 points or 1.22%. The S&P 500 closed at 3,145.91 for a gain of 28.48 points or 0.91%. The Nasdaq Composite closed at 8,656.53 for a gain of 85.83 points or 1.00%. The VIX Volatility Index was lower at 13.60 for a loss of 0.92 points or -6.34%.

For the week, indexes ended mostly flat with the S&P 500 up 0.20%, the Nasdaq unchanged and the Dow Jones down 0.20%. For the year, the Nasdaq has a gain of 29.86%, the S&P 500 has gained 25.33% and the Dow Jones is up 18.55%.

Friday's market movers

U.S. indexes closed higher Friday after a stronger-than-expected November jobs report. The U.S. economy added 266,000 new payrolls, beating estimates of approximately 175,000. General Motors (GM) workers returning to the workforce from a strike helped the results, which showed an increase of 54,000 jobs in manufacturing. The unemployment rate was lower for the month, falling from 3.6% to 3.5%.

Investors were also optimistic about trade. Chinese officials reported they would waive tariffs on some soybean and pork from the U.S. Data from the Federal Reserve also reported that imports from China were down 23% from a year ago.

Economic reports affecting market trading included the following:

  • The November Employment Situation report showed an increase of 266,000 in non-farm payrolls, beating expectations of approximately 175,000 and above the previous 156,000.
  • The unemployment rate decreased to 3.5% from 3.6%.
  • Average hourly earnings increased 0.2% in November and 3.1% year over year, average weekly hours were unchanged at 34.4, government payrolls increased by 12,000 following a decrease of 7,000, the participation rate decreased to 63.2% from 63.3%, manufacturing payrolls increased by 54,000 following a decrease of 43,000 and private sector payrolls increased by 254,000 following an increase of 163,000.
  • The Michigan Consumer Sentiment Index increased to 99.2 from 96.8.
  • Wholesale inventories increased 0.1% following a decrease of 0.7%.
  • The Baker Hughes North American oil rig count increased to 937 from 928.
  • Consumer credit outstanding increased by $18.91 billion.

In the S&P 500, energy and financial led gains. In the Dow Jones Industrial Average, the following stocks led gains:

  • 3M (NYSE:MMM) 4.27%
  • Goldman Sachs (NYSE:GS) 3.29%
  • Boeing (NYSE:BA) 2.38%
  • Dow Inc. (NYSE:DOW) 2.34%
  • American Express (NYSE:AXP) 2.00%
  • Apple (NASDAQ:AAPL) 1.92%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,633.84 for a gain of 19.00 points or 1.18%. The S&P 600 closed at 1,002.13 for a gain of 14.12 points or 1.43%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,431.34 for a gain of 104.92 points or 1.02%. The Dow Jones U.S. Small-Cap Value Index closed at 9770.35 for a gain of 115.59 points or 1.20%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,021.98 for a gain of 18.98 points or 0.95%; the S&P 100 at 1,402.31 for a gain of 13.73 points or 0.99%; the Nasdaq 100 at 8,397.37 for a gain of 88.97 points or 1.07%; the Russell 3000 at 1,844.44 for a gain of 16.68 points or 0.91%; the Russell 1000 at 1,738.56 for a gain of 15.41 points or 0.89%; the Wilshire 5000 at 32,159.22 for a gain of 288.76 points or 0.91%; and the Dow Jones U.S. Select Dividend Index at 738.22 for a gain of 5.51 points or 0.75%.

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This article first appeared on GuruFocus.