Fri Oct 04 23:25:51 UTC 2024: ## US Stocks Surge on Strong Jobs Report, Nearing Record Highs

**New York, NY** – The US stock market closed higher on Friday, buoyed by a surprisingly strong jobs report that signaled a robust economy. The S&P 500 climbed 0.9%, nearing its all-time high set on Monday. The Dow Jones Industrial Average also reached a record, gaining 0.8%. The Nasdaq Composite rose 1.2%.

Sectors most likely to benefit from a stronger economy, such as banks and cruise-ship operators, led the gains. However, rising Treasury yields and reduced expectations for future interest rate cuts by the Federal Reserve tempered the enthusiasm, pulling down home builders.

The S&P 500 finished the day at 5,751.07, while the Dow Jones Industrial Average closed at 42,352.75. The Nasdaq Composite ended at 18,137.85. The Russell 2000, which tracks smaller companies, gained 1.5% to finish at 2,212.80.

Oil prices also rose on the positive economic outlook.

**This article is for general informational purposes only and does not constitute financial advice.**

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