Stocks finished higher Friday. The Dow added 40 points to 26,424 while the S&P 500 gained 13 points to 2,892. The Nasdaq Composite climbed 46 points to 7,938.
The S&P 500 advanced for the seventh consecutive day, notching the longest winning streak since 2017 as investors assessed economic updates. The Labor Department revealed nonfarm payrolls increased by 196,000 in March, topping projections of 177,000 and February’s upwardly revised reading of 33,000. Average hourly earnings climbed 0.1% month-over-month, below consensus estimates of a 0.3% advance. Meanwhile, the unemployment rate held steady at 3.8%, near a 49-year low. In geopolitics, President Trump announced that a trade deal with China could be reached in the next four weeks.
All 11 S&P 500 sectors finished in positive territory. Energy stocks paced the gains amid higher oil prices. Health Care stocks also outperformed with Biogen adding 2.8% to $241.72. In corporate news, shares Bed Bath & Beyond advanced 4.3% to $18.35 following an analyst upgrade. Meanwhile, Dow lost 4.1% to $57.24 after a downbeat assessment.
Breadth was positive on issues by 10:3 on the NYSE and 7:3 on the Nasdaq. Composite NYSE Volume was more than 3.0 billion shares.
Treasuries were mixed, with the yield on the 10-year note down one basis point to 2.50%. In commodities, NYMEX WTI crude climbed 1.9% to $63.28/barrel to gain nearly 5% this week. COMEX gold added 0.1% to $1,290.40/ounce amid a stronger dollar.
For the week, the Dow advanced 1.9%. The S&P 500 jumped 2.1% and sits within 1% of its record high. The Nasdaq Composite rallied 2.7%.