S&P 500 Index rises to new record high above 4,700

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  • The major Wall Street indices opened higher on Friday.
  • The upbeat employment report for October appears to be boosting risk sentiment.
  • Healthcare is the only major S&P sector trading in negative territory.

The main stock indices they extended the weekly rally on Friday and hit new all-time highs after optimistic October employment figures, allowing risk flows to continue to dominate financial markets.

At time of writing, the S&P 500 is trading at 4,710, up 0.67% on the day. The Dow Jones Industrial Average was up 0.7% to 36,355 and the Nasdaq Composite gained 0.8% to 15,940.

The US Bureau of Labor Statistics reported on Friday that nonfarm payrolls increased by 531,000 in October, beating the market expectation of 425,000. Additionally, the unemployment rate fell to 4.6% from 4.8% in September.

Among the top 11 sectors in the S&P 500, the Industrial Index is up 1.3% as the biggest winner after the opening bell. On the other hand, the health index is the only major sector trading in negative territory, losing 1%.

S&P 500 chart (daily)

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