May 14, 2021

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Wall Street closes higher after positive jobs data

Wall Street closes higher after positive jobs data

NEW YORK (AA) – Wall Street closed higher Friday as the U.S. economy added more jobs than expected in February.

The Dow rose 46 points to finish at 20,904 and the S&P closed at 2,372 with a seven-point gain.

The Nasdaq increased 22 points to end the last trading day of the week at 5,861.

This week, the Dow, however, lost 0.5 percent to snap its four-week rising streak.

The S&P and the Nasdaq declined 0.4 percent and 0.2 percent, respectively, both ending their six-week runs.

The American economy added 235,000 jobs in February, according to the Labor Department earlier Friday, beating the market expectation of 200,000.

Unemployment rate fell to 4.7 percent in February, from 4.8 percent the previous month, according to the department.