Stocks wrapped up the week on a high note Friday, with major indexes pushing to fresh records after a jobs report that gave investors just about everything they wanted to see. The S&P 500 climbed 0.65% to close at 6,966.28, while the Dow Jones added roughly 238 points to finish at 49,504.07. The Nasdaq Composite gained 0.81% to settle at 23,671.35.
For the week, the S&P 500 notched a 1% advance. The Dow put up an impressive 2.3% gain, and the Nasdaq rose 1.9%, signaling broad-based strength across the market.
A Goldilocks Jobs Report
December's employment data delivered exactly the kind of not-too-hot, not-too-cold reading that markets tend to love. Nonfarm payrolls increased by 50,000, coming in slightly below the 60,000 consensus estimate and confirming that employment growth continues to cool. But here's the twist: the unemployment rate unexpectedly declined to 4.4% from 4.5%, hinting that the labor market might be finding its footing after months of gradual weakening.
This combination has investors convinced the Federal Reserve will stand pat on interest rates at its late-January meeting. According to the CME FedWatch tool, traders are now almost fully pricing in an unchanged policy stance.
Intel Surges on Trump Comments
Intel Corp. (INTC) was Friday's standout performer, jumping more than 10% to reach its highest levels since March 2024. The catalyst? President Donald Trump called his recent meeting with CEO Lip-Bu Tan "a great meeting," which was apparently enough to send shares soaring.
Across the S&P 500, most sectors finished in positive territory. Materials, utilities, and consumer discretionary stocks led the charge with the biggest gains. Health care and financial stocks were the exceptions, bucking the broader trend to close lower.