Stocks are closing at record highs on Wall Street Friday as a stunningly disappointing report on the nation’s job market signaled to investors that interest rates will stay low.
The S&P 500 and The Dow Jones Industrial Average both closed at record highs. Voices up and down Wall Street acknowledged that Friday morning’s jobs report was a massive shock, and it jolted the bond market. But many still expect the economy to keep strengthening. Stocks that have benefited most from low rates, including high-growth tech companies, helped drive the gains.
The S&P 500 rose 30.98 points, or 0.7%, to 4,232.60.