LB:CC - Stocks Gain by Noon Behind on Week

Stocks rebounded Friday following the Dow Jones Industrial Average's worst session in more than a year as traders cheered a stronger-than-expected jobs report and looked past a jump in rates.

The Dow Jones Industrials recovered 379.98 points, or 1%, to 38,976.96. The Dow tumbled about 530 points, or 1.35%, on Thursday, marking its biggest daily drop since March 2023 and its fourth consecutive losing session.

The S&P 500 gained 66.33 points, or 1.3%, to 5,213.94.

The NASDAQ hiked 239.09 points, or 1.5%, to 16,288.17.

Despite Friday's rebound, all three still headed for a losing week.

Overall this week, higher rates have plagued stocks. The Dow has led the three major indexes down this week, pacing for a loss of about 2%.

The S&P 500 and NASDAQ have each slid around 1%.

Job growth totaled 303,000 in March, which was better than expected, while the unemployment rate came in at 3.8% for the month, as expected. Nonfarm payrolls were expected to increase by 200,000, according to Dow Jones estimates. Wages rose 0.3% for the month and 4.1% from a year ago, both in line with estimates.

Prices for the 10-year Treasury sagged, boosting yields to 4.37% from Thursday's 4.31%. Treasury prices and yields move in opposite directions.

Oil prices picked up 45 cents to $87.04 U.S. a barrel.

Gold prices hesitated $36.30 to $2,344.80 U.S. an ounce.