Stocks rallied Friday, with the benchmark S&P 500 and Nasdaq Composite indexes notching new intraday records, after the Labor Department estimated the U.S. economy added 128,000 new jobs in October and upwardly revised its estimate of job growth in September and August.
Investors were also parsing the latest data on the U.S. manufacturing sector, which continued to contract in October, but less severely than the month before.
The Dow Jones Industrial Average rose 255 points, or 1%, to 27,301, while the S&P 500 index gained 23 points, or 0.8%, to 3,062. The Nasdaq Composite index added 69 points, or 0.8%, at 8,361.
The S&P 500 was trading above its previous intraday record and its current closing record of 3,046.77, set Oct. 30 and the Nasdaq rose above its previous closing record of 8,339.64, set July 26.