Two among three key benchmarks on the U.S. stock exchanges reached record highs in early trading on Friday, Nov. 1, after data showed the U.S. employment market was healthier than expected in October.
The S&P 500 and the Nasdaq Composite indexes both opened at their new highs.
Reuters data show S&P 500 climbed up 13.16 points, or 0.43%, at 3,050.72, while Nasdaq up 42.69 points, or 0.51%, at 8,335.05.
The Dow Jones Industrial Average gained 96.72 points, or 0.36%, to open at 27,142.95.
President Donald Trump reacted positively to the bullish market, saying, “Stock Market up BIG! Record highs for S&P 500 and NASDAQ. Enjoy!”
Stocks went up as a Labor Department report showed on Friday that the U.S. economy added 128,000 new jobs in October, while Bloomberg’s survey of economists had forecast a gain of 85,000 jobs.
The job figures for August and September were also adjusted up, reflecting a thriving economy that is eliminating fears of a recession.
In addition, average hourly wages have increased by 6 cents to $28.18, bumping up the annual earnings from 2.9 percent to 3 percent.
The unemployment rate ticked up from 3.5% to 3.6%, but was still near a five-decade low.