NEW YORK, Jan. 9 (Xinhua) -- U.S. equities concluded the trading week on a high note on Friday, as investors digested a key labor market report and monitored significant administrative shifts in housing.
The Dow Jones Industrial Average rose 237.96 points, or 0.48 percent, to 49,504.07. The S&P 500 added 44.82 points, or 0.65 percent, to 6,966.28, and the Nasdaq Composite Index increased 191.33 points, or 0.81 percent, to 23,671.35. All three major benchmarks recorded gains for the week.
In the sector performance, nine of the 11 primary S&P 500 sectors ended positive. Materials and utilities led the advance, rising 1.8 percent and 1.24 percent, respectively. Conversely, the healthcare and financial sectors lagged, declining 0.58 percent and 0.35 percent.
Total non-farm payrolls in the United States increased by a seasonally adjusted 50,000 in December, missing the market estimate of 73,000. However, analysts suggested the lower-than-expected figure reinforces the likelihood that the Federal Reserve will maintain the current interest rate at its upcoming meeting.
"Jobs growth has effectively ground to a halt and the jobs that are being added are concentrated in just three sectors. The bulk of the U.S. economy is trimming employment, which points to further work for the Federal Reserve," said James Knightley, U.S. chief international economist at ING.
The Trump administration directed mortgage giants Fannie Mae and Freddie Mac to purchase 200 billion U.S. dollars in mortgage-backed securities to lower borrowing costs. Meanwhile, market participants are also awaiting a Supreme Court ruling on the legality of reciprocal tariffs, which has been rescheduled for Jan. 14.
In corporate moves, Intel surged 10.8 percent following reports of a productive meeting between the U.S. president and the company's CEO Lip-Bu Tan. ■