Stocks rose Friday, with all the major averages on pace for weekly declines, as investors drew conflicting conclusions about what the latest payroll numbers mean for future Federal Reserve rate hikes.
The Dow Jones Industrials gained 401.97 points, or 1.3%, to conclude Friday at 32,403.22.
The S&P 500 advanced 50.66 points, or 1.4%, to 3,770.55
The NASDAQ was ahead of Thursday's close by 132.31 points, or 1.3%, to 10,475.25.
All the major averages are on track to close out the week with losses, with the Dow down 2.5% and set to end four weeks of gains.
The S&P and lost 4.5%, and the NASDAQ is down 5.9%, on pace to break two-week winning streaks. The tech-heavy NASDAQ is also on course for its worst weekly performance since January 2022.
A better-than-expected October non-farm payrolls report on Friday further fueled some concerns that the Fed will persist with its tightening campaign. The report showed 261,000 payrolls added in October, surpassing a Dow Jones estimate of 205,000 additions. However, the unemployment rate came in at 3.7%, slightly above the expected 3.5%.
China stocks higher Friday, although the government hasn't formally announced a pivot. Pinduoduo, JD.com and Alibaba shares surged.
Corporate earnings season continued, with mobile payment company Block surging 17% after beating expectations. Carvana shared dropped 20% as it posted a wider-than-expected loss, while Twilio and Atlassian both plummeted on disappointing guidance.
Treasury prices gave up its gains, raising yields to 4.18% from Thursday's 4.15%. Treasury prices and yields move in opposite directions.
Oil prices jumped $4.40 to $92.57 U.S. a barrel.
Gold prices hiked $52.90 to $1,683.80 U.S. an ounce.