Dow, S&P 500 End at Record Highs after Jobs Data

U.S.stocks rose on Friday, with the Dow Jones Industrial Average and S&P 500 each closing at record levels after the May payrolls report provided the latest confirmation that economic conditions were improving. The Dow advanced 88.17 points, or 0.52%, to 16,924.28. The S&P 500 rose 8.98 points, or 0.46%, to 1,949.44. The Nasdaq Composite gained 25.17 points, or 0.59%, to 4,321.40.

U.S. consumer credit growth jumped in April to its fastest pace in almost three years, the Federal
Reserve reported Friday. U.S. consumers increased their debt in April by a seasonally adjusted
$26.8 billion.

Uber Technologies, the company that allows people to order taxis and private town cars via a
smartphone app, has just raised $1.2 billion in a fundraising round that values the four-year-old
startup at an astounding $17 billion.

Standard & Poor affirmed in a Friday release the current AA+/A-1+ rating for U.S. sovereign credit
and called the outlook “stable.

General Motors Co. announced four new recalls Friday in keeping with ongoing initiative to review
its entire vehicle portfolio in response to the ignition- switch recall scandal.