(CNBC) Stocks rose on Friday, rebounding from a two-day loss, as data showed U.S. job creation was stronger than expected in April.
The Dow Jones Industrial Average rose 196.95 points to 26,504.74, while the S&P 500 rose nearly 1% to 2,945.62, posting its biggest gain since April 1. The Nasdaq Composite climbed 1.6% higher to hit a record high of 8,164. Shares of Amazon got a boost from an investment by Warren Buffett’s Berkshire Hathaway.
The U.S. added a robust 263,000 new hires in April while the unemployment rate fell to 3.6%, the lowest since December 1969, according to a Labor Department report Friday. The nonfarm payroll growth far outpaced Wall Street expectations of 190,000 and a 3.8% jobless rate, according to Dow Jones estimates.
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