Late Buying Lifts Dow, S&P 500 Back Above Key Levels; Strong Jobs Reports Snaps Week-Long Slide
Stocks withstood late profit-taking and then finished with a run back near their session highs after a big jump in November hiring carried the markets higher, snapping a five-day losing streak. All 10 sectors in the S&P 500 were higher, with broad-based strength across financial, consumer, healthcare, and industrial stocks, and lifting the market gauge back over the 1,800 mark. A late surge also carried the Dow Industrials average back above 16,000. Both the Dow and S&P 500 snapped 5-day slides seen as concern that strong data would push the Fed to taper sooner or more aggressively clouded markets.