Finance

S&P 500 rises after solid job gains in May, sits less than 1% below its record high

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U.S. stocks climbed on Friday as the key May jobs report showed solid gains, boosting confidence in the economic comeback.

The S&P 500 rose 0.5%. The Dow Jones Industrial Average traded 110 points higher. The Nasdaq Composite gained 0.7%. The S&P 500 is sitting 0.6% from its all-time high reached last month. The equity benchmark has lost about 0.3% this week through Thursday.

The U.S. economy added 559,000 jobs in May, the Labor Department said on Friday. The number came in slightly lower than an estimate of 671,000 from economists surveyed by Dow Jones, but still showed a healthy rebound in the labor market as it’s up from a disappointing 266,000 payrolls added in April.

The unemployment…



Source cnbc.com

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