Stimulus hopes power S&P 500 to record high

The S&P 500 jumped to an all-time high on Fri­day as data show­ing the slow­est jobs growth in six months rein­forced expec­ta­tions for a new fis­cal stim­u­lus bill to help revive the econ­o­my from its worst down­turn in decades.

Ten of the 11 major S&P index­es trad­ed high­er, with the ener­gy sec­tor lead­ing gains, fol­lowed by finan­cials and the mate­ri­als sector.

Oil majors Occi­den­tal Petro­le­um Corp and Chevron Corp climbed about 1% each, boost­ed by a rise in crude prices, as major pro­duc­ers agreed on a com­pro­mise to con­tin­ue the bulk of exist­ing sup­ply curbs.

The Labor Department’s close­ly watched report showed non­farm pay­rolls increased by 245,000 jobs after ris­ing by 610,000 in Octo­ber. That was the small­est gain since the jobs recov­ery start­ed in May.


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