Treasury yields powered higher Friday and two major stock indexes notched more record highs after a report showed the U.S. job market is making widespread improvements.
The S&P 500 and the Dow Jones Industrial Average rose, both marking all-time highs. Declines for several Big Tech companies helped pull the Nasdaq composite down.
The government’s monthly jobs report showed that hiring was stronger across the economy in July versus economists’ expectations. That raised expectations for the Federal Reserve to soon pare back its assistance for the economy. That would be a drag on all stocks, particularly for high-flying technology companies.
The S&P 500 rose 7.42 points, or 0.2%, to 4,436.52.
The Dow Jones Industrial Average rose 144.26 points, or 0.4%, to 35,208.51.
The Nasdaq fell 59.36 points, or 0.4%, to 14,835.76.
The Russell 2000 index of smaller companies rose 11.75 points, or 0.5%, to 2,247.76.
For the week :
The S&P 500 is up 41.26 points, or 0.9%.
The Dow is up 273.04 points, or 0.8%.
The Nasdaq is up 163.09 points, or 1.1%.
The Russell 2000 is up 21.52 points, or 1%.
For the year:
The S&P 500 is up 680.45 points, or 18.1%.
The Dow is up 4,602.03 points, or 15%.
The Nasdaq is up 1,947.48 points, or 15.1%.
The Russell 2000 is up 272.91 points, or 13.8%.