Stocks closed broadly higher Friday as investors bet that a report showing the U.S. added fewer jobs than expected last month increases the odds that the Federal Reserve will cut interest rates in coming months.
The rally capped a week of gains that gave the benchmark S&P 500 index its best week since late November and reversed most of the market's losses in May.
The S&P 500 index rose 29.85 points, or 1.1%, to 2,873.34.
The Dow Jones Industrial Average gained 263.28 points, or 1%, to 25,983.94.
The Nasdaq composite climbed 126.55 points, or 1.7%, to 7,742.10.
The Russell 2000 index of smaller companies picked up 10.85 points, or 0.7%, to 1,514.39.
For the week:
The S&P 500 gained 121.28 points, or 4.4%.
The Dow rose 1,168.90 points, or 4.7%.
The Nasdaq climbed 288.95 points, or 3.9%.
The Russell 2000 added 48.90 points, or 3.3%.
For the year:
The S&P 500 is up 366.49 points, or 14.6%.
The Dow is up 2,656.48 points, or 11.4%.
The Nasdaq is up 1,106.82 points, or 16.7%.
The Russell 2000 is up 165.83 points, or 12.3%.