US stocks advanced on Friday as a weaker-than-expected payrolls report tamped down expectations for a September rate hike from the US Federal Reserve, although hawkish comments from another Fed official kept expectations for one this year intact.
US nonfarm payrolls rose by 151,000 jobs in August after an upwardly revised 275,000 increase in July, with job cuts in manufacturing and construction, the Labor Department said. Economists polled by Reuters had forecast payrolls rising by 180,000 last month.
The Dow Jones industrial average rose 72.66 points, or 0.39 percent, to 18,491.96, the S&P 500 gained 9.12 points, or 0.42 percent, to 2,179.98 and the Nasdaq Composite added 22.69 points, or 0.43 percent, to 5,249.90.
For the week, both the Dow and S&P 500 rose 0.5 percent and the S&P gained 0.6 percent.
Advancing issues outnumbered declining ones on the NYSE by a 4.23-to-1 ratio; on Nasdaq, a 2.25-to-1 ratio favored advancers.
The S&P 500 posted 41 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 151 new highs and 18 new lows.
US nonfarm payrolls rose by 151,000 jobs in August after an upwardly revised 275,000 increase in July, with job cuts in manufacturing and construction, the Labor Department said. Economists polled by Reuters had forecast payrolls rising by 180,000 last month.
The Dow Jones industrial average rose 72.66 points, or 0.39 percent, to 18,491.96, the S&P 500 gained 9.12 points, or 0.42 percent, to 2,179.98 and the Nasdaq Composite added 22.69 points, or 0.43 percent, to 5,249.90.
For the week, both the Dow and S&P 500 rose 0.5 percent and the S&P gained 0.6 percent.
Advancing issues outnumbered declining ones on the NYSE by a 4.23-to-1 ratio; on Nasdaq, a 2.25-to-1 ratio favored advancers.
The S&P 500 posted 41 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 151 new highs and 18 new lows.
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