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Dow, S&P 500 Hit Record Highs as Wall Street Reacts to Strong US Jobs Report

NEW YORK (Sputnik) – The Dow Jones Industrial Average and the S&P 500 hit record highs on Monday as stocks on Wall Street strongly rallied in response to a stellar US jobs report for March released last Friday.

The Dow, Wall Street’s broadest stock indicator, comprising mostly industrial stocks, closed up 373 points, or 1.1 percent, at 33,526, after hitting an all-time high at 33,618.

The S&P 500, which groups the top 500 stocks on the New York Stock Exchange, closed up 57 points, or 1.4 percent, at 4,077, after a record high of 4,084.

The technology-laden Nasdaq Composite Index closed up 225 points, or 1.7 percent, at 13,705.

Nasdaq, which groups high-flying tech stocks such as Facebook, Apple, Amazon, Netflix and Google, hit a high of 13,721 on the day, short of its February record high of 14,175.

Stocks rallied after the Labor Department reported on Friday that US employment expanded by 916,000 in March, far above the 660,000 forecast by economists.

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