Stocks rise on jobs data, S&P 500 ends week with solid gain
NEW YORK (AP) — Stocks closed higher Thursday after a report showed the U.S. job market continues to climb out of the crater created by the coronavirus pandemic in the spring.
The S&P 500 rose 0.5% and finished the holiday-shortened week with a gain of 4%. Stocks also rose across Europe and Asia, while oil prices strengthened on hopes that a recovering economy will mean more demand. Worries about the virus are still weighing on investors, however. Florida reported another sharp increase in confirmed cases, helping to cut the S&P 500’s early gains by more than half.
The bond market also showed continued caution.