Stocks close higher on Fed cut-growing economy sweet spot

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The Dow and S&P 500 were losers on the week, but the Nasdaq gained 0.5%

U.S. stocks roared higher Friday after jobs data confirmed the economy continues to grow, but kept hopes alive for an additional Federal Reserve interest-rate cut. The Dow Jones Industrial Average DJIA, +1.42% gained about 371 points or 1.4% to 26,571.99, and the S&P 500 SPX, +1.42% rose 41 points, 1.4%, to close at 2,951.91. The Nasdaq COMP, +1.40% rose more than 110 points, also 1.4%, and closed at 7,982.47.

jumped after a media report said the company was readying its suppliers for a 10% jump in iPhone 11 deliveries.

 

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