The Dow Jones Industrial Average will open at its highest level in about six months, rising above its record high for the first time in nearly a year, as investors react to a weak jobs report.
The Dow Jones index of private companies rose more than 2% on Wednesday, beating Wall Street consensus and its biggest gain since December 2017.
It gained more than 1% for the week, after rising 0.7% on Thursday.
Investors will likely view the jobs report as the biggest positive in the Dow since March, when the Labor Department said the economy added 200,000 jobs.
The U.S. economy has expanded by just over 200,00 jobs in the past four months, and unemployment is still above 8%.
jobless rate fell to 7.7%, below the 9.0% mark it hit in October.
The Fed is expected to release its second-quarter policy report on Wednesday and a report on Thursday, but it won’t have much impact on stock prices.
Shares of Wal-Mart Stores Inc. and Kroger Co. were among the most volatile stocks on the Dow this week, rising more than 30% and 20%, respectively.
Wal-mart stock rose almost 6% and the stock was trading at a discount to the S&P 500.
In the Dow’s history, the average gain in the S-1 index has been 2.8%.
The index has risen 6,800% since the end of World War II.
The index’s biggest gains were made during the Great Depression of the 1930s and Great Recession of the early 1990s.
It’s been on a tear for the past five years.