iStock/Thinkstock(NEW YORK) — U.S. stocks closed higher Friday as the U.S. reported a strong jobs report last month. Bank stocks rallied after President Trump signed two executive actions targeting Wall Street and banking reforms.
The Dow jumped 186.55 (+0.94 percent) to finish at 20,071.46.
The Nasdaq gained 30.57 (+0.54 percent) to close at 5,666.77, while the S&P 500 finished at 2,297.42, up 16.57 (+0.73 percent) from its open.
Crude oil prices were at $54.5 a barrel, up about 1 percent.
Jobs Report: U.S. stocks also closed higher on a strong jobs report for January. The U.S. Bureau of Labor said the country added 227,000 jobs last month, higher than the expected 175,000, with most of the job gains coming from retail trade, construction and financial activities.
President Trump: President Trump signed two executive actions on Friday related to financial regulations after the president met with economic advisers and CEOs at the White House. Rep. Jeb Hensarling (R-Texas), chairman of the House Financial Services Committee, said President Trump’s actions were the “beginning of the end” of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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