U.S. stocks advanced following the release of the U.S. Bureau of Labor Statistics’ April jobs report, which pointed to ongoing strength in the U.S. labor market.
The S&P 500 (^GSPC) rose 0.89%, or 25.82 points, as of 12:39 p.m. ET. The Dow (^DJI) rose 0.77%, or 202.74 points. The Nasdaq (^IXIC) increased 1.29%, or 103.73 points, as shares of Amazon (AMZN) advanced more than 3% after Warren Buffett said Berkshire Hathaway had invested in the internet giant for the first time.
The economy added 263,000 non-farm payrolls for the month, the Bureau of Labor Statistics reported Friday. This topped expectations for 190,000 new positions, based on consensus estimates compiled by Bloomberg. March’s payroll additions were downwardly revised to 189,000, from 196,000 previously.
The unemployment rate fell to 3.6% for the month, a 49-year