Stocks closed broadly higher on Friday, erasing most of the market’s losses for the week and driving the S&P 500 index to its second straight weekly gain.
The rally powered the Nasdaq to an all-time high for the second time this week. The S&P 500 finished just shy of the record high close it reached on Tuesday. Technology and consumer-focused companies did the most to pull the market higher as traders welcomed a strong report on hiring.
The S&P 500 index gained 28.12 points, or 1%, to 2,945.64.
The Dow Jones Industrial Average rose 197.16 points, or 0.7%, to 26,504.95.
The Nasdaq composite climbed 127.22 points, or 1.6%, to 8,164.
The Russell 2000 index of smaller company stocks added 31.37 points, or 2%, to 1,614.02.