Stocks rose on Friday after the monthly earnings report showed U.S. lost jobs in December as investors continued to look forward to further fiscal stimulus.
The S&P 500 rose 0.3% while the tech-heavy Nasdaq Composite advanced 0.5%. The Dow Jones industrial average went around the level.
All three indices closed at charts as investors focused on the potential for more government spending after winning in runoff races in Georgia that will give Democrats control of the U.S. Senate.
In the meantime, the coronavirus pandemic is still putting pressure on the economy. A Department of Labor report on Friday showed the U.S. lost 140,000 jobs in December, ending seven months of job growth.
“So far investors are continuing to look beyond the weakness of this report and other economic data as they are confident that more fiscal stimulus is coming,” said Michael Arone, chief strategist. investment at State Street Global Advisors. “And as the vaccine is rolled out, this will only be temporary and we will be able to overcome the weakness of this number in the hope that it will not be too far away. ”