Stock market shakes off Brexit losses

 The U.S. stock market has completely recovered from the shock of June’s Brexit vote.

The Dow Jones Industrial Average closed Friday up 250 points, putting it at a level above where the market stood before the British referendum upended the globe.

The S&P 500 and Nasdaq also posted similarly strong gains.


Friday’s gains were boosted by a stronger than expected jobs report. The Labor Department reported Friday morning that the economy added 287,000 in June. The number was well above economist expectations, and tamped down concern over a dismal May report.

The government recorded just 11,000 jobs in May, the lowest level in years. But the strong June report suggests it was an outlier among several months of solid growth, settling concerns about the strength of the U.S. economy.

Global markets have been on edge since the end of June, when British voters stunned the world by voting to leave the European Union. The Dow fell over 600 points in the day after that vote, amid uncertainty and concern about what the tumultuous exit could mean for the global economy.

The vote has led to a political shakeup in Great Britain and high uncertainty for the future of Europe, but for the time being it appears U.S. investors are willing to stay in the market.