U.S. stocks end at record highs after strong jobs report

US stocks rose on Friday after the June jobs report showed an accelerating recovery for the U.S. labor market.

U.S. stocks advanced a second straight week to end Friday, with all three benchmark indexes at fresh all-time highs before heading into a long holiday weekend, after a monthly report employment was better than expected as the economy bounces back from the COVID pandemic.

The Dow Jones Industrial Average rose 152.82 points, or 0.4%, to 34,786.35 for a record close. The S&P 500 index advanced 32.40 points, or 0.8%, to 4352.34, closing at a fresh all-time high. The Nasdaq Composite Index gained 116.95 points, or 0.8%, to a record 14,639.33.

The U.S. added 850,000 jobs in June, marking the biggest monthly gain since March, and jobs gains in May were raised slightly to 583,0000 from 559,000. Unemployment rose to 5.9% in June from 5.8% in May.

Outside of the jobs data, a reading on factory orders for May showed a 1.7% rise, after a revised 0.1% decline in the prior month, the Commerce Department said Friday. Factory orders have risen in 12 of the last 13 months.

U.S. markets will remain closed on Monday in observance of Independence Day, the Fourth of July holiday that falls on a Sunday this year.

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