S&P 500 Wraps Up Strongest Week in Months

And the Dow rises another 92
By Newser Editors,  Newser Staff
Posted Feb 5, 2021 3:13 PM CST
S&P 500 Wraps Up Strongest Week in Months
In this photo provided by the New York Stock Exchange, trader Thomas Lee, left, works on the floor, Friday, Feb. 5, 2021.   (Courtney Crow/New York Stock Exchange via AP)

Wall Street put the wraps on a strong week Friday, particularly for the benchmark S&P 500. The index rose 15 points on the day to a record 3,886, putting it up 4.7% for the week, reports CNBC. That's the strongest weekly performance since November, per the Wall Street Journal. The Dow rose 92 points Friday to 31,148 and the Nasdaq rose 78 points to 13,856. The increases came after the monthly jobs report showed that employers added a modest 49,000 jobs in January, slightly below expectations.

“It’s very consistent with data over last two months which show that job growth is slowing,” Sameer Samana of the Wells Fargo Investment Institute tells the AP. The service industry in particular continues to feel the pinch as people refrain from dining out and traveling. “In some ways it seems the reopening economy is still struggling a little bit and it’s responsible for quite a few jobs,” Samana said. (More stock market stories.)

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