U.S. stocks closed higher Friday, shaking off pressure from low oil prices, after encouraging data on domestic employment and manufacturing.
"I think the combination of a solid jobs report and better manufacturing has helped the market move higher," said Kate Warne, investment strategist at Edward Jones.
The Dow Jones industrial average closed up about 107 points at its highest since Dec. 4, 2015. Goldman Sachs contributed the most to gains, while Chevron and Exxon Mobil contributed the most to declines on the index, which fell as much as 117 points in morning trade.
The major averages turned higher after ISM manufacturing for March came in at 51.8, topping expectations and up from February's 49.5 print.
The "ISM number was much better than expected," said Peter Coleman, head trader at Convergex.
"We've been in an uptrend for a while here. I think people ... want to put money to work," he said.
U.S. stocks initially opened lower despite an encouraging March jobs report.
Reference: CNBC
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