The strong report should help ease any doubts among investors that the USA economy remains healthy.
PPG, which sells paints and coatings, sank 10.1 percent to $98.56 for the biggest loss in the S&P 500 after it warned that higher costs for oil and other materials will weigh on its third-quarter results.
Of the 11 major sectors of the S&P 500, all but utilities closed in positive territory, with energy, financials and trade-sensitive industrials enjoying the largest percentage gains.
USA stocks and government-bond yields rose Friday after a surprisingly upbeat monthly jobs report signaled strength in the us economy, offsetting some of the jitters about trade that rattled investors earlier this week. -China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite.
Retailers also fell. Home Depot lost 1%. The yield on the 10-year Treasury rose to 1.83% from 1.79% late Thursday. The unemployment rate fell to 3.5%, a 50-year low, while average wages edged up 0.2% to $28.29 an hour. The euro rose to $1.1496 from $1.1488, and the British pound rose to $1.3146 from $1.3090.
As far as Friday was concerned, market participants were largely focussed on data coming from the Department of Labor that revealed USA non-farm payrolls had jumped by 266,000 in November alongside an unexpected drop in the rate of unemployment.
US Treasury yields rose after the strong employment report, and bank stocks had their best day in over a month, rising 1.6 per cent. Economists polled by Dow Jones expected a gain of 187,000. "It essentially means the Fed's easing cycle is complete and it puts the U.S. in a stronger position for trade war negotiations". The FTSE 100 rallied 1.4% on Friday, lifted by the U.S.jobs data and speculation that Prime Minister Boris Johnson's Conservative Party will win the vote.
Kudlow also told Bloomberg TV there is no single condition that would make or break trade talks with China. China started off the week saying it wants tariffs to be canceled as part of a "phase one" trade deal. Investors were rattled this week when President Donald Trump said he wouldn't mind waiting until after the 2020 elections for an agreement. However, Trump said Thursday the two countries were inching closer to a trade deal. Tariffs on another $156 billion in Chinese goods are set to go into effect on December 15.