Dow jones near 15,000

Stocks continued to spike Friday, with the S&P 500 crossing above 1,600 and the Dow topping 15,000, as Wall Street cheered a better-than-expected April nonfarm payrolls report. 

Meanwhile, the rate of growth in the U.S. services sector slowed in April to 53.1 from 54.4 in March, according to the Institute for Supply Management, hitting its weakest pace in nine months. Economists polled by Reuters expected a reading of 54. Any reading above 50.0 indicates expansion in the sector. And factory orders posted their biggest decline in seven months, sliding 4 percent in March, according to the Commerce Department. Economists expected a decline of 2.6 percent.