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The Dow is closing more than 200 points higher despite the US employment data
The S & P500 and Dow Jones Industrial Average hit record highs Friday, May 7, as growth stocks and giants helped the Nasdaq Composite Index recover after US jobs data eased concerns about a possible rate hike.
US job growth slowed unexpectedly in April, likely affected by a labor shortage, a Labor Department report showed today.
The report dispelled some of the concerns about rising inflation and the possibility of raising US interest rates, which investors feared would hurt the highly rated growth companies.
Heavyweight stocks such as Microsoft, Apple and Alphabet rose, with gains across the S&P 500 sectors, led by Energy and Real Estate.
Shares of energy and materials companies have reached new heights.
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