Stocks gained on Friday as an unexpected decline in July jobs numbers suggested that the Federal Reserve may not need to hike interest rates soon, allowing monetary policy to remain unchanged for now.
The S&P 500 increased by 0.4%, while the Nasdaq Composite outperformed with a 0.7% rise.
The Dow Jones Industrial Average added 70 points, or 0.1%.
Looking at the week, stocks are on track for their second consecutive weekly gain.
The S&P 500 has risen over 3% so far, and the Nasdaq could post its best weekly performance since April with a gain of over 4%, buoyed by a rally in chip stocks.
The iShares Semiconductor ETF (SOXX) has surged more than 7% this week. Meanwhile, the Dow is up nearly 3% for the week.
Source (CNBC)
