S&P 500 Closes Higher as Strong US Jobs Report and Chipmakers Fuel Rebound

The S&P 500 advanced 0.31% and the Nasdaq 100 gained 1.35% on Friday, recovering from earlier selloffs as semiconductor shares rebounded and upbeat labor data boosted sentiment. October nonfarm payrolls rose by 165,000, beating the 70,000 consensus estimate, while the unemployment rate fell unexpectedly to 4.1%. Semiconductor stocks led gains, with Advanced Micro Devices jumping over 11%. However, the Dow Jones Industrial Average dropped 0.46% to a four-week low, weighed down by enterprise software losses, while 10-year Treasury yields rose 2.4 basis points to 4.859% amid hawkish Federal Reserve remarks.