U.S. stock market rose on Friday after the government announced that employers added more than expectation. Energy and metals are gaining ground on the latest sign of strength for the economy, and both energy and mining companies jumped up.
In energy sector, Seadrill Ltd (NYSE: SDRL) jumped up 96.30% to $5.30, Denbury Resources Inc. (NYSE: DNR) rose 41.84% to $3.00, and Chesapeake Energy Corporation (NYSE: CHK) increased 18.18% to $5.07. In basic materials sector, Endeavour Silver Corp (NYSE: EXK) gained 14.44% to $2.14, Joy Global Inc. (NYSE: JOY) picked up 10.81% to $17.83, and United States Steel Corporation (NYSE: X) increased 7.09% to $13.21.
During this week, stock market has increased following announcements that U.S. economy is doing fairly well, including data on construction spending and manufacturing.
Kate Warne, investment strategist for Edward Jones, said she expects continued job and economic growth for the U.S.
"The worries that we've been hearing recently about the economy sliding into recession aren't warranted," she said. Combined with low inflation rates, she said that's good news for investors.
The yield on the 10-year Treasury note increased to 1.89% from 1.84% late Thursday. Gold up about 1% to $1,269 per ounce and silver jumped 4% to $15.72 per ounce. Copper rose 3% to $2.28 per pound. Copper mining company Freeport-McMoRan Inc. (NYSE: FCX) increased 12.3% to $10.23 and aluminum producer Alcoa rose 4.3% to $9.88. Gold miner Newmont Mining picked up $0.26 to $27.08. Crude oil up 3.7% to $35.85 per barrel in New York. Brent crude, the benchmark for international oils, increased 4% to $38.56 per barrel in London. Even U.S. oil is still down significantly this year, Brent, the international standard, is now higher than it was at the beginning of the year.