Stocks were able to close higher by moderate margins after a volatile session on Friday, which came as traders expressed some skepticism regarding the day's considerably improved jobs report. The major averages all closed in positive territory by varied margins, unable to hold onto fresh yearly intraday highs set during the session.
This morning, trader sentiment was bolstered by a report from the U.S. Labor Department showing that non-farm payrolls dropped by 11,000 in November - a significant improvement from the 111,000 jobs lost in October. The figure surprised economists, most of whom had expected job losses to once again top 100,000.
The market was also comforted by news that revised figures for the previous couple months showed fewer job losses in October and September than people had previously thought.
The data also showed that the unemployment rate moved down to 10.0 percent for the month after reaching a 26-year high of 10.2 percent in October. The decline was also unexpected, as economists had forecast the rate to remain at 10.2 percent for the month.
Also on the economic front, the Commerce Department reported that new orders for manufactured goods in the month of October increased for the sixth time in the past seven months amid an increase in orders for non-durable goods.
The major averages all finished the session above the unchanged line but well off their best levels of the day. The Dow gained 22.75 points or 0.2 percent to close at 10,388.90, the Nasdaq advanced by 21.21 points or 1 percent to 2,194.35 and the S&P 500 rose by 6.06 points or 0.6 percent to 1,105.98.
With the gains, the major averages all closed higher for the week, with the tech-heavy Nasdaq outperforming its counterparts. The Nasdaq jumped 2.6 percent for the week, while the Dow and the S&P 500 rose 0.8 percent and 1.3 percent, respectively.
Sector News
Airline stocks were some of the day's strongest performers, reflecting strength in the transportation sector as a whole. The NYSE Arca Airline Index saw a 4.3 percent gain, rising for a fifth straight session and reaching its highest closing level in twenty-one months.
Commercial real estate stocks also saw substantial gains, with the Morgan Stanley REIT Index advancing by 3 percent. With the upward move, the index closed at its best level in over a year.
Electronic storage, banking, defense, tobacco and housing stocks also rose, among others, while gold stocks saw sharp losses. The NYSE Arca Gold Bugs Index dropped by 5.2 percent, pulling back further off of the more than one-year closing high set on Tuesday.
The weakness among gold stocks came as the price of the precious metal plunged by $48.60 to $1,168.80 an ounce, pulling back off of an all-time closing high set in the previous session.
Dow Components
Bank of America (BAC) was the Dow's leading percentage gainer, posting a gain of 3.3 percent and setting its best closing level in nearly two weeks.
The gain came after BofA issued the largest security offering by a public firm since the year 2000, intending to use the proceeds to repurchase the preferred stock issued to the U.S. Department of the Treasury as part of the Troubled Asset Relief Program or TARP.
Boeing (BA) also saw a notable move to the upside, climbing by 1.7 percent on the day. With the advance, the stock closed at its highest price in fourteen months.
Intel (INTC), Hewlett Packard (HPQ, Disney (DIS) also rose, while DuPont (DD) was the Dow's leading decliner, plunging by 7.2 percent. The stock backed further off of Tuesday's yearly closing high and ended at a one-month closing low.
The retreat by shares of the chemical giant came on the heels of news that the firm will delay the release of its corn and soybean seed products.
Alcoa (AA), Exxon (XOM) and Pfizer (PFE) also fell, among others, limiting the gain by the blue chip index.
Other Markets
In overseas trading, stocks markets across the Asia-Pacific region closed on a mixed note on Friday. Japan's benchmark Nikkei 225 Index advanced by 0.5 percent, while Hong Kong's Hang Seng Index fell by 0.3 percent.
Meanwhile, the major European markets finished on the upside by varied margins. The U.K.'s FTSE 100 Index gained 0.2 percent, while the German DAX Index and the French CAC 40 Index gained 0.8 percent and 1.3 percent, respectively.
In the bond markets, treasuries saw considerable weakness on the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, closed at 3.483 percent, posting a gain of 10.3 basis points.
Looking Ahead
Amid a relatively light economic calendar next week, the markets are likely to focus on the weekly jobless claims report, along with data on retail sales and consumer sentiment.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.