The Dow Jones Industrial Average and the S&P 500 closed slightly higher Friday, but off their best levels of the day, as the Nasdaq Composite Index lagged, weighed down by a slump in shares of Amazon ( AMZN ).
A stronger-than-expected jobs report helped support the market Friday as the major US equity indexes posted gains for the week. The US economy created 304,000 new jobs in January, almost twice what was projected, helping soothe fears over the economy that have emerged among some investors.
The S&P 500 posted a 1.6% gain for the week, followed by the Nasdaq, which rose 1.4% and the Dow, which added 1.3%.
Amazon was a drag on the Nasdaq and also the S&P 500 after the online retailer Thursday after the close issued a Q1 revenue forecast that was less than Wall Street expectations. Amazon fell 5.4%. Energy stocks were the best performers in the S&P, helping the index scratch out a gain. Energy shares climbed 1.8% as a group, bolstered by a sharp advance in crude oil prices . West Texas Intermediate crude rallied 2.9% to $55.34 per barrel.
In addition to the jobs report, other economic news was positive and helped provide a boost to stocks. For example, the Institute for Supply Management's purchasing managers index climbed 2.3 percentage points to 56.6% in January.
Dow Jones Industrial Average was up 64.22 points (+0.26%)
S&P 500 was up 2.43 points (+0.09%)
Nasdaq Composite Index was down 17.87 points (-0.25%)
FTSE 100 was up 0.74% to 7,20.22
Hang Seng Index was down 0.04% to 27,930.74
Shanghai China Composite Index was up 1.30% to 2,618.23
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