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The S&P 500 rose to a new all-time intraday high on Friday, notching a weekly gain, following the release of the latest jobs report.
The Dow Jones Industrials gained 237.96 points to 49,504.08.
The much-broader index took on 44.82 points to 6,966.28
The NASDAQ hiked 191.33 points to 23,671.35.
The S&P 500 was up more than 1% the week while the Dow and NASDAQ have each jumped roughly 2%.
Stocks remain on track for a winning week. The S&P 500 is up about 1% week to date, while the Dow has built roughly 2.1%, and NASDAQ progressed 1.1%.
Shares of homebuilders supported the broader market Friday after President Donald Trump directed “representatives” to buy mortgage bonds as a way to drive rates down for homebuyers.
D.R. Horton jumped more than 6%, as did PulteGroup. Lennar advanced more than 7%. Home improvement stocks such as Home Depot also gained.
The December jobs report showed nonfarm payrolls increasing by 50,000 last month, less than the 73,000 that economists polled by Dow Jones had estimated.
That data, though slightly weaker than expected, showed a U.S. economy that’s still trudging along, with investors anticipating that growth will ramp up.
Additionally, the unemployment rate inched down to 4.4%, while economists had forecast 4.5%. Traders took that as a sign that improvement in the economy would happen soon.
Prices for the 10-year Treasury were higher, lowering yields to 4.17%, from Thursday’s 4.18%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.07 to $58.53 U.S. a barrel.
Gold prices added $54.70 to $4,515.00.
