STOCKS RISE AFTER THE JOBS REPORT: Here's what you need to know

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STOCKS RISE AFTER THE JOBS REPORT: Here's what you need to know

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US stocks rose after a stronger-than-forecast jobs report for February, but not by enough to avoid the first weekly loss since mid-January.

Here's the scoreboard:

• Dow: 20,896.49, +38.30, (0.18%)
• S&P 500: 2,372.57, +7.70, (0.33%)
• Nasdaq: 5,860.89, +22.08, (0.38%)
• WTI crude oil: $48.45, $-0.83, (-1.68%)

1. The US economy added 235,000 nonfarm payrolls in February with a surge in construction jobs that was likely enabled by warmer whether. The unemployment rate dipped to 4.7% from 4.8%, according to the Bureau of Labor Statistics. Average hourly earnings rose 2.8% year-on-year.
2. Canada's labor market added 15,000 jobs in February, with full-time employment up and part-time employment down. Additionally, the unemployment rate fell to 6.6% from 6.8%.
3. Bitcoin crashes. The cryptocurrency fell by as much as 17% after the US Securities and Exchange Commission rejected an application for one of the three proposed bitcoin-focused exchange-traded funds.
4. The US oil rig count rose for an eighth straight period this week, by eight to 617, according to Baker Hughes. West Texas Intermediate crude oil futures fell below $50 per barrel on Thursday for the first time since December after government data showed record inventories. 
5. An obscure senate rule could collapse the House GOP leadership's plan to repeal and replace Obamacare . The Byrd rule makes it so any bill going through the budget reconciliation process — like the AHCA — can be blocked on the grounds that it contains an "extraneous matter" or something "merely incidental" to the federal budget.

Additionally:

Trump's economic adviser says Trump had nothing to do with Friday's strong jobs report

SPICER: Trump doesn't think the jobs report is 'phony' or 'totally fiction' anymore

TRUMP: 2017 was the year Obamacare was 'meant to explode, because Obama won't be here' 

One specific part of the Obamacare replacement bill has a bunch of doctors worried

Stocks are in a 'rare state' — here's what happens when they get as expensive as they are right now

You're twice as likely to live the American Dream in Canada

NOW WATCH: Here's what fruits and vegetables looked like before we domesticated them

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March 10, 2017 at 07:18AM