Stocks closed out the week with a bang after a closely watched report on the job market surprised investors by showing that employers added to their payrolls last month, defying predictions they would slash more jobs.

The S&P 500 rose 2.6% Friday, its eighth gain in the last 10 trading days. Employers added 2.5 million jobs in May, while economists were expecting them to cut another 8 million.

To be sure the data could be an aberration, and the slog ahead is long, but the report lent credence to the optimism building that the economy can climb out of its coronavirus slump.