Dow, S&P 500 Hit Records After Jobs News

U.S. stocks ended higher on Friday, with the Dow and S&P 500 notching closing highs, after November’s jobs gains blew way past estimates. The Dow Jones industrial average rose 58.69 points, or 0.33%, to 17,958.79. The S&P 500 gained 3.45 points, or 0.17%, to 2,075.37. The Nasdaq Composite added 11.32 points, or0.24%, to 4,780.75.

The Labor Department data showed U.S. employers hired more workers in November than during any month in nearly three years. Non-farm payrolls surged by 321,000, the most since January 2012 and topping forecasts for 230,000 new jobs. The unemployment rate held steady at a six-year low of 5.8 percent.

U.S. consumers increased their borrowing in October but at a slightly slower pace than in the previous month as credit card use slowed. Overall borrowing rose $13.2 billion following a $15.4 billion gain in September, the Federal Reserve reported Friday.

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