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Stocks end broadly higher on jobs report

first_imgA solid jobs report and company earnings spurred U.S. stocks broadly higher Friday, driving the S&P 500 to its second straight weekly gain.The Nasdaq composite hit an all-time high for the second time this week. The benchmark S&P 500 index closed less than 0.1 percent below the record high it reached on Tuesday.Technology and consumer-focused companies did the most to push the market higher. Stocks in the communications, industrial, financial and health care sectors also notched solid gains as traders cheered surprisingly good earnings from United States Steel, Weight Watchers and other companies.Investors also welcomed the government’s latest snapshot of U.S. employment, which showed that job growth surged in April past economists’ forecasts and unemployment fell to a five-decade low.“Overall, this was a solid report that should assuage fears that the U.S. economy is losing momentum,” said Quincy Krosby, chief market strategist at Prudential Financial.last_img

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