Wall Street was looking at yet another bullish session Friday, Dec. 8, after the Labor Department said the U.S. added 228,000 jobs to payrolls in November, higher than expected, and the unemployment rate remained steady last month at 4.1%.
The Nasdaq was leading the major averages higher for the third straight session, climbing 0.7% after the opening bell. The S&P 500 gained 0.44% and the Dow Jones Industrial Average rose 0.34%.
Utilities continued to trail while Treasuries were mixed and the dollar rose after the U.S. added more jobs in November than analysts were expecting.
U.S. employers added 228,000 jobs last month, higher than FactSet estimates of 190,000, as post-hurricane hiring accelerated and retailers prepared for a record holiday shopping season.
Average hourly wages gained 0.2% month to month to $26.55. Economists expected an increase of 0.3% in November from October. The figures could have a big impact on interest rate projections for 2018 from the Fed, which holds its final policy meeting of the year next week in Washington, DC.
In Europe, benchmarks around the region traded solidly in the green, following confirmation of an agreement between London, Dublin and Brussels that will allow Brexit talks to move past the "divorce bill" stage and onto critical areas such as trade.
TheStreet's founder, Jim Cramer, asked Boeing Co. (BA) Chairman and CEO Dennis Muilenburg about our chances of going to Mars during our lifetime.
Muilenburg said that Boeing's next-generation rocket, which towers 36 stories tall, was being assembled and will see test flights in 2019. The first person that lands on Mars will get there on a Boeing rocket, he said. Muilenburg talked on Cramer's "Mad Money" show on CNBC on Thursday.
Alexion Pharmaceuticals Inc. (ALXN) were up 6.8% Friday amid reports that activist investor Elliott Management was pressing for major changes on the company's board if it doesn't outline plans to boost growth.
Gun maker American Outdoor Brands Corp. (AOBC) was more than 10% Friday after the company slashed guidance following its earnings release Thursday. For the year, the company expects to see revenue between $650 million and $675 million, down from its previous estimate between $700 million and $740 million.
"Lower shipments in our Firearms business reflected a significant reduction in wholesaler and retailer orders versus the prior year," CEO James Debney said.
Sigma Designs Inc. (SIGM) was one of the market's biggest movers, climbing more than 20% Friday after Silicon Labs announced that it acquired the company for $282 million, or $7.05 per share in cash. The purchase price represents a 26% premium over the stock's closing price on Wednesday.
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