After The Bell: Stocks Higher On Oil And Jobs Data
After The Bell
(CBS) -- Stocks finished the week on an up note, with the Dow closing at a two-month high, as a decent government jobs report and a rise in crude oil prices put traders in a buying mood.
The S&P 500 gained 6, the NASDAQ added 9 and the Dow Jones industrial average closed up over 62 points, settling to 17,006.
"The jobs report was the primary driver, it's a big news event every single month," said Jim Welsh, macro strategist and author of Macro Tides.
He adds: "I think we are in a bear market, so this is to me a bear market rally, but I have felt that we've needed more time and we needed the market needs to go higher in order to get some of the negativity replaced by more optimism."
