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The S&P 500 and the Nasdaq opened at record highs on Friday on signs of progress towards more economic stimulus, while a closely watched jobs report confirmed the labor market was stabilizing.

The Dow Jones Industrial Average rose 174.75 points, or 0.56%, at the open to 31,230.61. The S&P500 rose 14.44 points, or 0.37%, at the open to 3,886.18, while the Nasdaq Composite rose 10.46 points, or 0.07%, to 13,788.20 at the opening bell.