The Dow Jones Industrial Average was up 0.4%, over 100 points, on Thursday, while the S&P 500 rose 0.4% and the tech-heavy Nasdaq Composite gained 0.5%.
Stocks jumped after a bigger-than-expected increase in jobs last month: The Labor Department reported that 4.8 million jobs were added in June—more than the 2.9 million expected.
The unemployment rate fell to 11.1%, down from 13.3% in May. The jobs data for June was collected
Despite beating analyst expectations, Facebook shares plummeted after it revealed a drastic rise in expenses in its fourth quarter earnings—as experts warn that mounting regulatory scrutiny and decelerating revenue growth could continue to negatively impact the stock.
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With the market near records, many stocks have surged as well.
Technology giant Apple hit a new record stock price on Friday, currently near $270 per share, after Citigroup boosted the company’s upside price target by 20% yesterday, predicting blockbuster holiday sales for products like Airpods and the Apple Watch.
Another of the big four tech companies, Google, also reached a new all-time high,
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