Wall Street rebounds on strong jobs report, Dow Jones jumps back above 28,000
Economies.com
2019-12-06 22:50PM UTC
US stocks advanced on Friday, lifted by a strong US jobs report and renewed optimism about the US-China trade talks, after positive remarks on that regard.
White House economic advisor Larry Kudlow said that the US and China trade deal is close, but the Trump administration is ready to end these talks if the deal is no good for Washington.
The US jobs report revealed today that the economy has added 266K new jobs in November, higher than forecasts of 181K jobs.
The US unemployment rate fell unexpectedly last month to a 50-year low of 3.5% from 3.6% in October.
To the oil market, West Texas Intermediate (WTI) rose 1.3% to close at $59.20 a barrel, and posted weekly gains of 7.3% (the largest since June), with an intraday high of $59.8 and a low of $57.7.
Brent rose 1.6% to $64.39 a barrel, with 1.3% weekly gain, and hit a high of $64.8 and a low of $62.8.
As for stocks, Dow Jones rose 1.2% or 337 points and settled at 28,015, but posted weekly losses of 0.1%, with a high of 28,035 and a low of 27,839.
Nasdaq added 1% or 86 points to 8,656, and posted 0.1% weekly loss, a session-high of 8,665 and a low of 8,630.
S&P 500 rose 0.9% or 28 points to close at 3146, and scored a weekly gain of 0.2%, a high of 3,150 and a low of 3,134.
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