U.S. stocks bounced back from earlier weakness to close higher on Friday but logged their second straight week of losses. Main indexes were pressured after data showed that the economy added only 160,000 new jobs in April while the unemployment rate remained flat at 5%. Economists polled by MarketWatch had expected a gain of 203,000. However, the market shrugged off the disappointing data as investors focused on the possibility that the Federal Reserve may refrain from raising interest rates in the near future.
S&P 500 rose 7 points, or 0.3%, to close at 2,057 while the Dow Jones Industrial Average added 80 points, or 0.5%, to finish at 17,740 and the Nasdaq gained 19 points, or 0.4%, to close at 4,736.
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From:: Stock Market News