Dow, S&P 500 close at record highs after dismal jobs report gives Fed more breathing room
- The Dow Jones and S&P 500 closed at record highs on Friday after a weak April jobs report gave the Federal Reserve breathing room to continue with its easy monetary policies.
- April had an addition of 266,000 jobs, well below the forecast of 1 million.
- The April jobs report represented the worst miss since 1998.
The Dow Jones and S&P 500 closed at record highs on Friday after a weak April jobs report led to investors bidding up popular stay-at-home stocks that have performed well during the pandemic. The Nasdaq led the
Here's where US indexes stood at the 4 p.m. ET close on Friday:
- S&P 500: 4,232.43, up 0.73%
- Dow Jones Industrial Average: 34,776.44 up 0.66% (227.91 points)
- Nasdaq composite: 13,752.24 up 0.88%
The surge in bitcoin interest has led to banks opening up new business divisions to gain exposure. A report said Citi was planning to launch its own crypto-trading services, and Goldman is also launching a cryptocurrency trading desk.A bitcoin exchange-traded fund launched three weeks ago has already attracted $832 million in assets under management as the crypto craze continues. Since the announcement of a divorce between Bill and Melinda Gates, more than $5 billion worth of stocks have been transferred to Melinda from Bill's Cascade Investment holding company.
Tilray jumped 10% on a double upgrade from Jefferies, which said its merger with Aphria was a "perfect" match.Gold jumped to its highest price since February, rising as much as 1.5% to $1,842.59 an ounce.
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