S&P 500, Nasdaq hit record highs after fall in payrolls sparks stimulus expectations

/ / News

Stocks opened higher Friday, with the S&P 500 and Nasdaq Composite touching all-time highs. The Dow Jones Industrial Average rose 88 points, or 0.3%, to 31,129, while the S&P 500 gained 18 points, or 0.5%, to 3,822. The Nasdaq Composite advanced 98 points, or 0.8%, to 13,165. The Labor Department said the U.S. economy lost 140,000 jobs in December, versus economist expectations for a rise of 50,000, as COVID-19 forced a rise in job cuts. Analysts said stocks found support on ideas the weak data could add to the impetus for another round of fiscal aid from Washington.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.