Stocks finished in record territory on Friday after a report showed the nation’s job market was even stronger last month than expected, per the AP. The Dow rose 152 points to 34,786, the S&P 500 rose 32 points to 4,352, and the Nasdaq rose 116 points to 14,639. All the gains were under 1%, but all set records for all-time-high closings, notes MarketWatch. The S&P is now riding a seven-day winning streak, which CNBC notes is its best stretch in nearly a year.
Economists took the jobs report as a sign that workers will indeed come back into the labor force as more people get vaccinated and the pandemic eases. Perhaps more importantly for markets, some said the numbers likely mean the Federal Reserve can stay on the course it’s set, keeping interest rates low for a while longer to support the economy. US markets will be closed on Monday in observance of Independence Day. (Read more stock market stories.)