S&P 500 hits record on rebound in US job growth, energy shares

Major US stock indexes gained on Friday, with the S&P 500 ending at a record high close, as energy stocks bounced back along with oil prices and US job growth rebounded. US nonfarm payrolls surged by 211,000 jobs last month after a paltry gain of 79,000 in March, and the unemployment rate dropped to 4.4 percent, near a 10-year low.

The Dow Jones Industrial Average rose 55.47 points, or 0.26 percent, to 21,006.94, the S&P 500 gained 9.77 points, or 0.41 percent, to 2,399.29 and the Nasdaq Composite added 25.42 points, or 0.42 percent, to 6,100.76. All three indexes posted gains for a third straight week. After seven sessions of not moving more than 0.2 percent in either direction, the S&P 500 eclipsed that range on Friday as stocks strengthened late in the day. 

The S&P 500 has gained 12.1 percent since President Donald Trump's November 8 election, fueled by his plans for tax cuts, infrastructure spending and deregulation. But the rally had slowed as some investors questioned Trump's ability to enact his agenda.

The S&P 500 posted 55 new 52-week highs and no new lows; the Nasdaq Composite recorded 123 new highs and 67 new lows. About 6.5 billion shares changed hands in US exchanges, just below the 6.6 billion daily average over the last 20 sessions.

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