US stocks rose on Friday, with Wall Street rallying strongly after a better-than-expected jobs report gave investors confidence in the health of the world's largest economy.
U.S. stocks rose after data showed nonfarm payrolls grew by 254,000 jobs in September, far exceeding the 150,000 jobs increase expected by economists polled by Dow Jones.
The unemployment rate fell to 4.1 percent, despite expectations that it would remain steady at 4.2 percent.
Stock movements
The S&P 500 ended the week up 0.22 percent, while the Dow Jones rose 0.09 percent.
The Nasdaq added 0.1 percent during the week.
During Friday's trading, the Standard & Poor's 500 index rose by 0.9 percent, reaching 5,751.07 points, while the Nasdaq Composite index jumped by 1.22 percent, to 18,137.85 points.
The Dow Jones Industrial Average added 341.16 points, or 0.81 percent, to record an all-time closing high of 42,352.75.
“We are still in an environment where good economic news is good news for the stock market because it increases the chances of a soft landing,” said Michelle Clover, head of ETF model portfolios at GlobalX, according to a report published by CNBC and reviewed by Sky News Arabia.
She added: After a summer of weak labor data readings, this is a reassuring reading that the US economy remains resilient, supported by a healthy labor market.
