Wall Street indices rose collectively over the past week, following a strong rise during Friday's trading. The growth in U.S. jobs at a slower-than-expected pace increased the likelihood of the Federal Reserve cutting interest rates. All three main U.S. indices posted strong gains on Friday, led by the Nasdaq, supported by Apple's stock rise after the iPhone manufacturer announced a record share buyback.
The employment report released by the Labor Department showed that the U.S. economy added fewer jobs than expected, while the unemployment rate rose, and wage growth slowed unexpectedly. Over the week, the S&P 500 index rose by 0.55%, reaching 5127.79 points. The Nasdaq Composite index increased by 1.43% over the past week, reaching 16156.33 points. The Dow Jones Industrial Average climbed by 1.4% over the week to reach 3867.68 points.
