Stocks rose on Friday, rebounding from a two-day loss, as data showed U.S. job creation was stronger than expected in April.
The S&P 500 gained 1% while the Dow Jones Industrial Average rose about 220 points. The Nasdaq Composite also climbed 1.5% higher. Shares of Amazon got a boost from an investment by Warren Buffett’s Berkshire Hathaway.
The U.S. added a robust 263,000 new hires in April while the unemployment rate fell to 3.6%, the lowest since December 1969, according to a Labor Department report Friday. The nonfarm payroll growth far outpaced Wall Street expectations of 190,000 and a 3.8% jobless rate, according to Dow Jones estimates.