The S&P 500 rose to a new record high on Friday, with equities projected to finish the week higher despite a stronger-than-anticipated job report.
The S&P 500 fell by 0.05%, while the Dow Jones Industrial Average rose by 57 points, or 0.1%. The Nasdaq Composite fell 0.2%. The benchmark 10-year Treasury yield rose about 15 basis points to 4.428%.
Nonfarm payrolls grew by 272,000 in May, exceeding Dow Jones’ projection of 190,000 and April’s 175,000.
Last month, average hourly salaries rose 0.4%, bringing them up 4.1% from the previous year. Despite the job gains, the unemployment rate increased to 4%.
Source (CNBC)
