The Dow Jones Industrial Average rose more than 200 points Friday to recoup most of its losses for the week following an upbeat unemployment report that showed a modest gain in wages. Investors got a dose of good news about the U.S. economy after the Labor Department released its May unemployment report, which showed a healthy gain in jobs that pushed the unemployment rate to 3.8%, the lowest since April 2000, and a modest gain in wages. The robust jobs report helped steady a stock market that had been struggling this week with concerns about escalating trade tensions and eurozone stability, which eased after Italy struck a deal on a coalition government. The Dow industrials added 219 points, or 0.9%, to 24635. The S&P 500 rose 29 points, or 1.1%, to 2735, while the Nasdaq Composite added 112, or 1.5%, to 7554. Buoyed by the jobs report, investors bought shares of technology companies, a popular trade that contributed to much of the nine-year stock rally's gains. Tech stocks in the S&P 500 rose nearly 2% on Friday, with Facebook adding $2.21, or 1.2%, to $193.99 – its highest close ever. Still, Friday's gains weren't enough to lift the Dow industrials out from the heavy selling it suffered earlier in the week, when political drama in Italy and the Trump administration's push to enact tariffs on key allies sent the Dow down triple digits during two of the four trading sessions. The blue-chip index of 30 stocks fell 0.5% this week, while the S&P 500 and Nasdaq rose 0.5% and 1.6%, respectively. The US Gold price declined 0.4% to 1,293.10 US$/oz.
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