The US Stock Market Ended the Week with New Records

The S&P 500 and Nasdaq conquered new highs, and the Dow came very close to its record.

The S&P 500 and Nasdaq grew 0.39% and 0.57%, respectively, on Friday. The new records are S&P 500 3886.83 points and the Nasdaq composite index 13,856.30 points. The Dow Jones rose 0.3% at the end of the day. All in all, it was the strongest week since November.

US stocks rose to end a strong week, and investors expected the disappointing January employment report to increase the possibility of further relief.

The three major indexes all set their best weekly trends since November last year (2020). Dow Jones rose 3.9%, while S&P and technology-based Nasdaq rose 4.7% and 6%, respectively. The small-cap Russell 2000 Index rose 7.7%, its best weekly performance since June last year.

The Labor Department said that 49,000 jobs were added in January, slightly lower than the 50,000 expected by economists. The unemployment rate fell to 6.3%, better than the 6.7% expected. In December last year, the figure was revised down to the loss of 227,000 jobs. The original value was 140,000.

 

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