Stocks Ended Higher, S&P 500 and Dow Set Record Highs

U.S. stocks ended higher on Friday, with the Dow and the S&P 500 setting new closing highs, as investors digested a disappointing April jobs report. The Dow Jones Industrial Average rose 229.23 points, or 066%, to 34,777.76. The S&P 500 added 30.98 points, or 0.74%, to 4,232.60. The Nasdaq Composite gained 119.39 points, or 0.88%, to 13,752.24.

Oil futures gained on Friday, with prices for the U.S. and global crude benchmarks up a second week as traders continued to assess the demand outlook for the market. June West Texas Intermediate crude rose 19 cents, or 0.3%, to settle at $64.90 a barrel on the New York Mercantile Exchange.

The Labor Department’s April jobs report showed that U.S. employers brought back just 266,000 jobs in April, whereas a gain of at least 1 million had been expected. Payroll gains for March were also revised lower. The unemployment rate unexpectedly increased to 6.1%, widening further from its pre-pandemic level of 3.5%.