U.S. stocks rose Friday after the December jobs report showed that employment was only slightly stronger and wage gains were less than expected, showing some signs of progress amid the Federal Reserve’s interest rate hikes to tame inflation.
The Dow Jones Industrial Average increased 353 points, or 1.07%. The S&P 500 gained 0.88%, while the Nasdaq Composite jumped 0.43%.
The December nonfarm payrolls report showed that the U.S. economy added 223,000 jobs last month, slightly higher than the expected 200,000 jobs economists polled by the Dow Jones expected. In addition, wages grew slower than anticipated, increasing 0.3% on the month where economists expected 0.4%.