Wall Street surged into rally mode during the final trading session of the week as better-than-expected jobs data helped ease fears of an economic slowdown.
In May, nonfarm payrolls increased by 139,000—a slight dip from April’s downwardly revised 147,000, but above economist forecasts of 130,000. The unemployment rate held steady at 4.2%, while wage growth beat expectations, signaling a potential boost to consumer spending.
The S&P 500 rose 0.9% nearing the 6,000 mark, its highest level since Feb. 24. The Nasdaq 100 climbed 1% to over 21,720, putting tech stocks within striking distance—just 2 percentage points—of record highs.
In equities, Tesla Inc. (NASDAQ:TSLA) rebounded 5.6%, partially recovering from Thursday’s 14% plunge triggered by a high-profile clash between Elon Musk and President Donald Trump. Cooler rhetoric on Friday helped sentiment, after the White …