The S&P 500 and Nasdaq both rose higher on Friday to finish their best week of 2022 so far amid a tech sector rebound led by upbeat quarterly earnings from Amazon
For the week, the S&P 500 added 1.5%, the Nasdaq rose 2.4%, and the Dow was up 1.1%, marking the second week of advances for market benchmarks this year.
Here's how the market settled to close out the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Bitcoin tops $40,000 on renewed optimism:
Bitcoin prices jumped to a two-week high on Friday as crypto investors grew more confident that the market is stabilizing after weeks of volatility.
Bitcoin's price rose nearly 9% to about $40,219, according to CoinDesk, climbing past the key psychological threshold of $40,000 for the first time since Jan. 22. Still, the coin is still well off from it's all-time high of about $69,000 it notched back in December.
Prices of other coins like Ether and LiteCoin also moved higher on Friday, while stock related to crypto, like Coinbase
U.S. employers add way more than expected jobs in January:
U.S. employers added back far more jobs than expected in January, despite renewed coronavirus pandemic pressures weighing on contact-heavy industries.
Non-farm payrolls grew by 467,000, according the the Bureau of Labor Statistics' monthly print published Friday. That total exceeded consensus economist expectations for 125,000. Meanwhile, the unemployment rate ticked slightly higher to 4.0%, a notch above the pandemic-era low of 3.9% posted in December.
January's biggest gains came in leisure and hospitality, which saw 151,00 hires--108,000 came from bars and restaurants. Professional and business services also added 86,000, while retail was up 61,000.
Here's how market benchmarks started trading soon after opening bell:
S&P 500 Index: +0.03% or +1.13 points to 4,474.86
Dow Jones Industrial Average: -0.31% or -110.52 points to 35,000.64
Nasdaq Composite Index: +0.41% or +56.57 points to 13,929.16
