Dow rises more than 400 points despite record job losses, posts first weekly gain in three

Stocks rose on Friday even after the ugliest monthly jobs report ever as investors bet the worst of the coronavirus and its impact on the economy has passed.

The Dow Jones Industrial Average jumped 455.43 points, or 1.9%, to 24,3331.32, closing near its session high. The S&P 500 gained 1.6%, or 48.61 points, to 2,929.80, while the Nasdaq Composite climbed 1.5%, or 141.66 points, to 9,121.32.

All three averages posted their first weekly advance in three. The Dow and S&P 500 were up 2.5% and 3.5% for the week, respectively, while the Nasdaq jumped 6%.