The Dow Jones Industrial Average posted slight gains on Friday after the U.S. government released jobs growth data that easily beat expectations.
The 30-stock Dow rose 64.22 points to 25,063.89 as Chevron, Exxon Mobil and Merck all closed higher. The Dow also posted its sixth straight week of gains, its longest since November 2017. The S&P 500 closed 0.1 percent higher at 2,706.53 as gains in the energy and tech sectors offset losses in consumer discretionary. The Nasdaq Composite declined 0.25 percent to 7,263.87 as Amazon shares fell.
The U.S. economy added 304,000 jobs in January, according to data released by the Bureau of Labor Statistics. Economists polled by Refinitiv expect the U.S. economy to have added 170,000 jobs in January. The report follows a 35-day U.S. government shutdown. It also marks the 100th straight month of jobs growth. Investors had been awaiting the report in search of clues about the state of the economy.
However, the report also included a sharp downward revision of December's jobs gains. January's wages also grew at a much slower-than-expected pace.
"There were definitely some gives and takes here with this report," said Bill Northey, senior investment director at U.S. Bank Wealth Management. "Regardless of your perspective, there was something to find in it."
Friday's moves come after the major indexes posted sharp monthly gains for the month of January. Last month's gains were the biggest for the Dow and S&P 500 since October 2015.