In September, the US non-farm payroll increased by 0.254 million, far exceeding expectations, with the unemployment rate unexpectedly dropping to 4.1%. The market expects a half-point rate cut in November, leading the three major US stock indices to open higher on Friday. The Dow closed 341 points higher, or 0.8%, at 42,352 points, marking a new record high; the Nasdaq rose by 1.2%.
The S&P 500 index closed 51 points higher, or 0.9%, at 5,751 points; the Nasdaq closed 219 points higher, or 1.2%, at 18,137 points. For the whole week, the S&P 500 index rose by 0.2%, while the Dow and Nasdaq increased by about 0.1%.
Technology stocks performed well, with Tesla (TSLA.US) and Amazon (AMZN.US) rising by 3.9% and 2.5% respectively. Netflix (NFLX.US) went up by 1.8%, and Nvidia (NVDA.US) continued its uptrend by 1.7%.
American Airlines Spirit Airlines (SAVE.US) plummeted by 24.6% throughout the day, amid rumors of a potential bankruptcy filing.