Dow industrials and S&P 500 at record heights after July nonfarm-payrolls report

The Dow and the S&P 500 opened at record highs Friday morning after the monthly jobs report came in better than expected, as the economy attempts to rebound from the COVID-19 pandemic and shake off the resurgent delta variant. The Dow Jones Industrial Average DJIA, +0.41% rose 0.5% to 35,229, the S&P 500 index SPX, +0.17% advanced 0.3% to 4,440. Both indexes hit all-time intraday highs. Meanwhile, the Nasdaq Composite Index COMP, -0.40% retreated less than 0.1%. Equities were being mostly bought after the U.S. Labor Department employment report for July showed that the U.S. economy added 943,000 new jobs in July, above forecast for 845,000, according to a Wall Street Journal survey of economists. That gain exceeds what was seen in June and offers some hope that the stalled employment picture is regaining some steam. The unemployment rate dropped to 5.4% from 5.9%, also surpassing expectations for a decline to 5.7%. The moves for stocks came as the benchmark 10-year Treasury note yield TMUBMUSD10Y, 1.302% was at 1.28% from 1.21% on Thursday.

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