US major indices close higher for the day. S&P snaps four week losing streak

The major US indices are closing higher for the day. The gains came despite strong and expected US jobs report and higher yields. Traders are hoping that the tame wage data and the unemployment rate remaining unchanged at 3.8% (expected 3.7%) will keep the Fed on hold. Next week we get key consumer price index data in the US released on Thursday.

The final numbers are showing:

• Dow industrial average rose 288.01 points or 0.87% at 33407.59
• S&P index rose 50.31 points or 1.18% at 4308.49
• NASDAQ index rose 211.50 points or 1.60% at 13431.33

For the trading week, the Dow industrial average could not erase its declines and still closed lower, but the S&P rebounded into positive territory today and snapped a 4-week losing streak. The NASDAQ index is also higher and has now risen for 2 consecutive weeks (admittedly last week’s gain was by the slimmest of 0.06%).

• Dow industrial average, -0.30%
• S&P index, +0.48%
• NASDAQ index +1.60%

Some of the big gainers today were the big cap/AI stocks:

• Adobe, +1.98%
• Nvidia, +2.41%
• Google, +1.87%
• Microsoft, +2.46%
• Meta, +3.49%
• Netflix, +2.43%

Shares of Apple rose by 1.43%, but lagged the NASDAQ index today. Amazon rose 1.59%