Dow closes at record high after blow-out jobs report
Source: NBC News
Oct. 4, 2024, 4:39 PM EDT
Stocks advanced on Friday after an expectation-defying jobs report gave investors confidence around the health of the economy.
The S&P 500 rose 0.9% to 5,751.07, while the Nasdaq Composite jumped 1.22% to 18,137.85. The Dow Jones Industrial Average added 341.16 points, or 0.81%, to notch an all-time closing high of 42,352.75.
Stocks rallied after data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted gain of 150,000 from economists polled by Dow Jones. The unemployment rate ticked down to 4.1% despite expectations for it to hold steady at 4.2%.
“After a summer of weak labor data readings, this is a reassuring reading that the U.S. economy remains resilient, supported by a healthy labor market,” said Michelle Cluver, head of ETF model portfolios at Global X. “We remain in an environment where good economic news is good news for the equity market as it increases the potential for a soft landing.”
Read more: https://www.nbcnews.com/business/markets/httpswwwcnbccom20241003stock-market-today-live-updateshtml-rcna174105
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as they try to spin this as bad somehow. "But inflation!" 
