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Market Snapshot: S&P 500 on track for all-time closing high after strong jobs report

U.S. stocks were on track to finish the week on a high note as futures extended gains after an upbeat employment report pointed to continued improvement in the labor market.

The U.S. economy added 255,000 jobs last month, which follows a strong gain in June, showing the economy is still quite healthy despite somewhat slower growth. The unemployment rate was unchanged at 4.9% even as the labor-force participation rate edged up to 62.8%, suggesting the labor market is tightening. There was also an uptick in wages.

Futures for the Dow Jones Industrial Average YMU6, +0.56% rose 90 points, or 0.5%, to 18,364, while S&P 500 index futures ESU6, +0.36% gained 7 points, or 0.3%, to 2,166.

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