S&P 500 Surges To Record Close Following Jobs Data: Investor Sentiment Improves, Fear Index Remains in ‘G

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the "Greed" zone on Friday.

U.S. stocks settled higher on Friday, with the Nasdaq Composite gaining more than 300 points and the S&P 500 surging to a record close during the session.

Stocks also recorded gains for the second straight week, with the S&P 500 rising 3.6% and the Nasdaq surging 5.2%.

The Dow also jumped around 3% last week.

On the economic data front, the U.S. economy unexpectedly shed 23,000 jobs in July against forecasts of an 80,000 gain, while May and June payrolls were revised down by a combined 103,000.