S&P 500 rises for a 7th straight day after strong jobs report
Stocks rose on Friday and the S&P 500 hit another record high after the June jobs report showed an accelerating recovery for the U.S. labor market. The S&P 500 has now risen for seven consecutive sessions.
The strong week on Wall Street was spurred by a string of solid economic reports, capped by a better-than-expected jobs report on Friday morning.
The economy added 850,000 jobs last month, according to the Bureau of Labor Statistics. Economists surveyed by Dow Jones were expecting an addition of 706,000. The print topped the 583,000 jobs created in May.
“This is a strong report and should be taken as a sign of things to come for an accelerating labor market,” Aberdeen Standard Investments deputy chief economist James McCann said in a note.
