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.