S&P hits record, Nasdaq jumps 1% as weak jobs data eases Fed tapering worries – Reuters

S&P hits record, Nasdaq jumps 1% as weak jobs data eases Fed tapering worries – Reuters

The S&P 500 and the Dow Jones Industrials hit record highs on Friday, while the technology-heavy Nasdaq index jumped 1% after weak U.S. jobs data eased worries about the Federal Reserve reducing its massive stimulus program anytime soon.

The Labor Department's closely watched employment report showed U.S. employers hired far fewer workers than expected in April, with nonfarm payrolls increasing by only 266,000 jobs last month after rising by 770,000 in March. read more

Economists polled by Reuters had forecast payrolls advancing by nearly 1 million jobs. Data also showed unemployment rate rose to 6.1% in April from 6.0% in March.