(CNBC) U.S. stocks traded higher on Friday on the back of stronger-than-expected employment data.
The Dow Jones industrial average rose 87 points, with McDonald’s contributing the most gains. The 30-stock index briefly traded more than 100 points higher. The S&P 500 rose 0.6 percent, with information technology leading advancers. The Nasdaq composite outperformed, advancing 1.1 percent.
The U.S. economy added 222,000 jobs in June, the Labor Department said. Economists polled by Reuters expected an increase of 179,000. The unemployment rate ticked higher to 4.4 percent from 4.3 percent. Wage growth — which is viewed as a measure of inflation — rose by just 0.2 percent, however.
