U.S. stocks jumped to record levels on Friday even after a disappointing April jobs report as the weak number made investors believe easy monetary policies that powered the market’s historic rebound will stay in place for longer. Some investors also dismissed the report as a one-time blip that doesn’t signal any slowdown in the economic recovery.

The S&P 500 climbed 0.7% to 4,232.60, hitting a record high. The S&P 500 gained 1.2%.

The Labor Department said non-farm payrolls increased by just 266,000 in April, far less than the 1 million total economists were expecting, according to Dow Jones. The unemployment rate rose to 6.1% last month amid an escalating shortage of available workers, higher than an expectation of 5.8%. Meanwhile, March’s originally estimated total of 916,000 was revised down to 770,000.

Plan A : Short if market failed to support above 4216. Targets are 4191, 4165 and 4138.

Plan B : Long if market retraced but supported firm above 4216. Targets are 4233, 4247 and 4268.

Futures contracts inched higher in the overnight session Sunday evening, suggesting that the major U.S. equity indexes could trade at or near records when regular trading opens in New York.

The tech-heavy Nasdaq Composite popped 0.9% to 13,752.24. The Nasdaq Composite shed 1.5% this week.

Investors bet that the big jobs miss could keep the easy policies of the Federal Reserve in place, including record low interest rates and a massive bond-buying program. Tech stocks, which have been winning under the low-rates regime during the pandemic, outperformed after the data release. Microsoft and Tesla both rose more than 1%, while Netflix, Alphabet and Apple all registered gains. Higher rates tend to hit growth stocks the most since they reduce the value of their future earnings.