Nasdaq rises for 5th day | Payrolls rose by 372,000 in June | Gold forms ‘death cross’ chart pattern

A solid week for stocks was capped with a better-than-expected June jobs report.

VIEW IN BROWSER | SUBSCRIBE FRI, JUL 08, 2022 EVENING BRIEF AS OF FRI, JUL 08, 2022 • 04:50 ET DJIA 31338.15 -0.15% -46.40 S&P 500 3899.38 -0.08% -3.24 NASDAQ 11635.31 +0.12% +13.96 Most Active DOW NAME LAST CHG %CHG AAPL 147.04 +0.69 +0.47% INTC 37.99 -0.15 -0.39% MSFT 267.66 -0.74 -0.28% S&P 500 NAME LAST CHG %CHG AMD 79.35 +0.05 +0.06% AAPL 147.04 +0.69 +0.47% F 11.62 -0.03 -0.26% NASDAQ NAME LAST CHG %CHG AMD 79.35 +0.05 +0.06% AAPL 147.04 +0.69 +0.47% NVDA 158.38 -0.20 -0.13% EDITOR'S NOTE A solid week for stocks was capped with a better-than-expected June jobs report and some additional gains for the Nasdaq Composite.   Recession fears have become a key factor on Wall Street, but the jobs data shows that the economic downturn is not here just yet.    Jobs were strong across the board, with health care, professional services and leisure and hospitality among the top sectors last month. Government was the only sector that lost workers.  Wall Street strategists believe that the report is good news for the economy but may also give the Federal Reserve the confidence to keep being aggressive with its rate hikes.    "There has been a lot of doom and gloom recently, so a strong labor market read may assuage some fear of a recession and shows the resilient nature of our economy with a robust labor market in the face of hot inflation," said Mike Loewengart, managing director of investment strategy at E-Trade. "The Fed is committed to raising rates aggressively to cool it, which will likely result in continued volatility."   Next week includes a key inflation report and earnings updates from major banks, so the jobs report's positive signal for the economy will be quickly tested.  Jesse Pound | CNBC Markets Reporter @jesserpound Watch our live stream for all you need to know to invest smarter. TOP NEWS  Nasdaq rises for fifth-straight day after strong jobs report as Wall Street notches winning week Japan's former PM Shinzo Abe assassinated at campaign event Payrolls increased 372,000 in June, more than expected, as jobs market defies recession fears Biden says Supreme Court is 'out of control,' orders HHS to protect abortion access Fed's Brainard says crypto needs regulation now before it becomes so big that it threatens financial system Big payroll gains push recession fears into the corner — for now Gold forms ominous 'death cross' pattern as it takes strong dollar hit WD-40 could be harbinger of dismal earnings season marred by inflation, foreign exchange pressures Warren Buffett beefs up his Occidental bet again, pushing his stake to 18.7% U.S. to send another $400 million in military aid to Ukraine; Russia hits out at West at G-20 TOP VIDEO The Fed can move 75 basis points at the next meeting, says Atlanta Fed President Bostic CNBC PRO Dividend payments are headed for a record this year despite a possible recession. Here's how to play it SPECIAL REPORTS Here's a tax-smart charitable giving strategy using money from your IRA Railroad bottleneck at nation's busiest West Coast ports reaches inflection point Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS