NEW YORK (Reuters) – U.S. stocks rallied to close out the trading week on Friday as the S&P 500 set a closing record for the third time in five days after an upbeat U.S. jobs report and data on Chinese manufacturing lessened concerns about slowing global growth.

The Dow Jones Industrial Average .DJI rose 299.98 points, or 1.11%, to 27,346.21, the S&P 500 .SPX gained 29.33 points, or 0.97%, to 3,066.89 and the Nasdaq Composite .IXIC added 94.04 points, or 1.13%, to 8,386.40.