Stocks rose on Friday after a better-than-expected U.S. jobs report assuaged fears that the economy was slowing down, lifting investor sentiment.
The Dow Jones Industrial Average traded 32 points higher, led by Walgreens Boots Alliance and Pfizer. The S&P 500 climbed 0.4% as the energy and consumer discretionary sectors outperformed. The Nasdaq Composite advanced 0.5%.
The U.S. economy added 196,000 jobs in March, according to data released by the Bureau of Labor Statistics. Economists polled by Dow Jones expected a print of 175,000. However, wage growth expanded 3.2%, below an expected gain of 3.4%.
Wall Street was looking forward to this report after the previous jobs data showed growth of just 20,000. That number was revised higher to 33,000 on Friday.