Dow Jones closed more than 200 points higher despite US employment data | Talk of the markets

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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 over 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 & P500 sectors, led by Energy and Real Estate.

Shares of energy and materials companies have reached new heights.

Based on unofficial data, the Dow rose 227.91 points, equivalent to 0.66%, to reach 34776.44 points, the S & P500 advanced 30.81 points, or 0.73%, to record 4,232.43 points, and the Nasdaq increased 119.40 points, or 0.88%, to 13,752.24 points.





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