Stocks rise following strong jobs report

Stocks rose Friday after a strong jobs report overshadowed U.S.-China tariffs.

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The Dow Jones Industrial Average climbed 99.74 points, or 0.41%, to 24,456.48. The S&P 500 climbed 23.21 points, or 0.84%, to 2,759.82. The Nasdaq Composite rallied 101.96 points, or 1.34%, to 7,688.39.

The U.S. economy added 213,000 jobs in June with the unemployment rate rising to 4%. Wage growth remained steady at 2.7% even though hourly wages inched higher by 0.2%.

Economists surveyed by Thomson Reuters expected the U.S. economy would have added 195,000 jobs in June with the unemployment rate holding steady at May’s 3.8%, which was the lowest since April 2000.

A wave of new job seekers contributed to the unemployment rate's month-to-month increase in June.

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES27934.02-102.20-0.36%
SP500S&P 5003120.18-1.85-0.06%
I:COMPNASDAQ COMPOSITE INDEX8570.658078+20.72+0.24%

China's customs authority, said China will levy tariffs on 545 items worth $34 billion in response to U.S.'s tariffs, according to the China Daily newspaper. This comes after U.S. tariffs went into effect at 12:01 a.m. ET Friday.

FOX Business’ Ken Martin contributed to this article.