NEW YORK (TheStreet) -- Stocks closed sharply higher Friday after a relatively positive jobs report, but the market ended mostly flat for the week.
The S&P 500 gained 1.35% on Friday but was up only 0.37 for the week. The Dow Jones Industrial Average climbed 267 points, or 1.49%, posting a 0.9% gain for the week. The Nasdaq rose 1.18% but fell slightly for the week.
Shares of Bojangles' (BOJA) - Get Bojangles', Inc. Report, the fried-chicken-and-a-biscuit Southern chain, spiked as much as 47% from its IPO price of $19, after it began trading Friday on the Nasdaq. Bojangles priced its IPO Thursday evening at the high end of its range. The initial filing suggested a price range was $15 to $17 for 7.75 million shares to be sold. The stock closed up 25.3% to $23.81.
More than two-thirds of S&P 500 companies have reported so far this earnings season, but there remains some key players still set to disclose their quarterly performance. Among them, DISH Network (DISH) - Get DISH Network Corporation Class A Report and Sotheby's (BID) - Get Sotheby's Report will report on Monday, GoDaddy (GDDY) - Get GoDaddy, Inc. Class A Report and Zillow (Z) - Get Zillow Group, Inc. Class C Report will report Tuesday, Macy's (M) - Get Macy's Inc Report and Shake Shack (SHAK) - Get Shake Shack, Inc. Class A Report are set for Wednesday, and Kohl's (KSS) - Get Kohl's Corporation Report is scheduled for Thursday.
On the economic calendar in the week ahead, April retail sales will be released on Wednesday, producer prices data is set for Thursday morning and industrial production figures is scheduled for Friday.
Despite the stronger gains in jobs during April, it remains unclear whether the
to raise interest rates sooner than later. Speculation has continued over whether the Fed would raise rates in June or push it back to September or later.
The Fed has "kept rates so low for so long and I think they'll take the risk of beginning to tighten," Jerry Webman, chief economist of OppenheimerFunds told TheStreet TV. "That's why September looks reasonable, even though we're seeing these neither here nor there kind of [jobs] numbers."
Crude oil settled higher on Friday. West Texas Intermediate crude rose 46 cents to $59.39 a barrel. Crude rose 0.78% for the week.
European and Asian markets rose on Friday. The FTSE 100 closed up 2.21%, Germany's DAX rose 2.51% while China's Shanghai Composite closed up 2.28%.
Elsewhere, in corporate news on Friday:
Monster Beverage (MNST) - Get Monster Beverage Corporation Report shares slumped 10.5% following disappointing earnings. The energy drink company reported net income of $4.41 million, or 3 cents a share, compared to $95.3 million, or 55 cents, in the year-earlier period. Monster's expanded deal with Coca-Cola (KO) - Get Coca-Cola Company Report, a major stakeholder, forced the Corona, Calif.-based company to pay $206 million in early termination fees to other partners last quarter.
CBS (CBS) - Get CBS Corporation Class B Report shares fell 0.65%, after earnings of $394 million, or 78 cents a share, fell from the year-earlier quarter but topped analysts' expectations. The media conglomerate reported revenue fell 2% to $3.5 billion for the March-ended quarter, which CBS blamed on one fewer National Football League football game on CBS Television Network and lower advertising revenue.
Swiss agricultural company Syngenta (SYT) a Swiss agricultural company, rejected Monsanto's (MON) $45 billion bid to take it over. Syngenta said the price was too low and that regulatory hurdles would be difficult to clear. Syngenta's ADRs surged 11.4%, while Monsanto stock rose 1.4%.
AOL (AOL) shares surged 10.2% after beating consensus expectations. AOL reported $7 million, or 9 cents a share, for the first quarter, down from $9.3 million, or 11 cents, in the year-earlier period. Adjusted earnings came in at 34 cents a share for the three-month period ended March 31, beating expectations of 32 cents.. Revenue also beat estimates, coming in at $625.1 million for the quarter.
McDonald's (MCD) - Get McDonald's Corporation Report shares rose 1.5% after the fast-food chain reported U.S. sales fell 2.3% in April fueled by ongoing competition and falling traffic, the Oak Brook, Ill.-based company said. On a global scale, McDonald's sales fell 0.6% last month, fueled by its Asia/Pacific, Middle East and Africa regions.
"Earlier this week, we announced the initial steps in McDonald's business turnaround plan," CEO Steve Easterbrook said in a press release. "We are moving quickly to deliver a better experience to our customers and to realize our vision to become a modern, progressive burger company."