Investing.com — The and reached new record highs on Friday, supported by slightly stronger-than-expected November jobs data that likely won’t deter the Federal Reserve from cutting rates later this month.
The S&P 500 gained 0.25% to finish at 6,090.27, while the Nasdaq advanced 0.81% to 19,859.77, driven by strong performances from Tesla (NASDAQ:), Meta Platforms (NASDAQ:), and Amazon (NASDAQ:). Both indexes hit all-time highs during the session and closed at new peaks. Meanwhile, the lost 123.19 points, or 0.28%, ending the day at 44,642.52.
For the week, the S&P 500 and Nasdaq posted their third consecutive weekly gains, rising 0.96% and 3.34%, respectively. The Dow, however, edged down 0.6% over the same period.
Friday’s jobs report showed nonfarm payrolls increasing by 227,000 in November, surpassing the Dow Jones forecast of 214,000 and reflecting a sharp rebound from October’s upwardly revised gain of 36,000. The unemployment rate ticked up to 4.2%, in line with expectations.
Much of the focus this week will be on incoming inflation data, with the November Consumer Price Index (CPI) and Producer Price Index (PPI) set to be released on Wednesday and Thursday,…
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