The S&P 500 increased on Friday as traders viewed an unexpected jobs report for July as a sign that the Federal Reserve may not need to raise interest rates soon, allowing monetary policy to remain on hold for now.
The broad market index gained 0.6%, with the Nasdaq Composite performing even better, rising 1.2%.
The Dow Jones Industrial Average added 162 points, or 0.3%.
Stocks are on track for a second consecutive week of gains. The S&P 500, which recently closed above 7,700 for the first time, has risen more than 3% so far this week.
The Nasdaq could have its best weekly performance since April, climbing 5%, driven by a rebound in chip stocks.
Source (CNBC)
