(CNBC) Stocks rallied on Friday after an unexpected surge in U.S. jobs raised hope that the economy is starting to recover from the coronavirus pandemic.
The Nasdaq Composite became the first of the three major averages to climb back to an all-time high, advancing 2.0%, or 198.27 points, to 9,814.08 on Friday, touching an intraday record of 9,845.69. After tumbling as much as 25% earlier this year, the tech-heavy index is now 9.3% higher for 2020.
The Dow Jones Industrial Average jumped 800 points, or 3.0%. The S&P 500 traded 2.4% higher.
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