Stocks closed higher at the end of wild trading session following the Labor Department's better-than-expected February jobs report, rallying back from a sharp sell-off earlier in the session as bond yields eased. The S&P 500 trading up almost 2% after falling 1% in earlier trading, the Dow Jones climbed over 600 points after sinking as much as 150 points, and the Nasdaq swung from a 2.6% drop to a 1.4% gain. Market benchmarks rebounded as the 10-year U.S. Treasury yield declined back to 1.56% after rising above 1.6% earlier in the session.
The market averages ended the week mixed, with the S&P 500 adding 0.81% and the Dow climbing 1.82%, but the Nasdaq fell 2.06% amid this week's pressure on tech stocks.
The U.S. economy added 379,000 non-farm payrolls in February, well above the 200,000 expected. The unemployment rate also unexpectedly improved to 6.2%, down slightly from January's 6.3%. January payrolls also gained more than previously reported, with the data revised to 166,000 from the 49,000 first totaled.
Here's how the market settled to close out the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
For Stocks, Virgin Galactic
For Sector Performance, every sector on the S&P 500 closed in positive territory at the end of Friday's broader market rally. Health Care
For Commodities and Currency, the U.S. Dollar
For the week ahead, market participants will focus on headlines surrounding the Congressional lawmakers debate over the $1.9 trillion coronavirus relief package.