Dow gains 700 points as stocks log biggest advance in 5 weeks

U.S. stocks logged their biggest daily advance in more than 5 weeks on Friday as investors reacted to data showing the labor market and wage growth finally starting to cool. The S&P 500 SPX, +2.28% gained roughly 87 points, or 2.3%, to finish at 3,895 as the index snapped a four-week losing streak. The Dow Jones Industrial Average DJIA, +2.

13% climbed 700 points, or 2.1%, to finish at roughly 33,630. The Nasdaq Composite COMP, +2.56% advanced 264 points, or 1.6%, 10,569. Labor Department data showed the U.S. economy added 233,000 jobs last month, which was fewer than the prior month, while beating economists’ expectations for 200,000 new jobs. Wages grew by a modest 0.3% last month.

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