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- The S&P 500 wrapped up Friday's session with its seventh consecutive record-high close.
- The Nasdaq and the Dow also climbed after a surprisingly strong June jobs report.
- US markets will be closed Monday for Independence Day.
- See more stories on Insider's business page.
US stocks on Friday notched a seventh straight day of record highs, bolstered by a June jobs report showing stronger improvement than expected in the labor market as it continues mending from the impact of the coronavirus pandemic.
The S&P 500 and Nasdaq Composite each logged a new closing high after finishing Thursday's session with a sixth consecutive record win.
Investors pushed stocks up after the Labor Department said 850,000 jobs were added to nonfarm payrolls last month. That outstripped expectations of 703,000 new jobs in an Econoday estimate.
Here's where US indexes stood at 4:00 p.m. on Friday:
- S&P 500: 4,352.45, up 0.75%
- Dow Jones Industrial Average: 34,787.93, up 0.45% (154.40 points)
- Nasdaq Composite: 14,639.33, up 0.81%
The jobs report showed more hiring in the leisure and hospitality industry that was hit hard by the pandemic as bars, restaurants, and air travel were temporarily shut down to curb the spread of the virus.
"The labor market will continue to be a closely monitored setting for the economic recovery since, all else equal, a faster than expected revival of the job market could cause the Fed to begin removing the monetary policy punch bowl earlier than expected," Jason Pride, chief investment officer at Glenmede, a private wealth management firm, said in a note.
"Today's report likely does not significantly change the Fed's calculus here, as the U.S. labor market is far from its 'full employment' mandate," he wrote. The data arrived before Monday's closure of stock trading in observance of Independence Day.
Around the markets, Didi shares sharply dropped after the Chinese government announced a cybersecurity review of the ride-hailing service, a regulatory blow coming two days after Didi marked the largest US trading debut by a Chinese company since 2014.
Virgin Galactic Holdings shares soared after founder Richard Branson said he will travel on the spaceflight company's test flight on July 11, days before Jeff Bezos' planned trip to space.
Ether has overtaken bitcoin in the number of active addresses on its network, indicating demand may be faltering for the world's biggest cryptocurrency.
Gold rose 0.8% to $1,791.53 per ounce. Long-dated US Treasury yields fell, with the 10-year yield at 1.431%.
Oil prices turned higher as investors waited for OPEC and its allies to reach a deal on output levels. West Texas Intermediate crude rose 0.8%, to $75.75 per barrel. Brent crude, oil's international benchmark, gained 0.7% to $76.34 per barrel.
Bitcoin reversed direction and edged up by 0.1%, to $33,165.77.