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Wall St ends up after better-than-expected jobs data



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Major U.S. indexes end moderately higher

Consumer staples weakest S&P 500 sector; energy leads gainers

Dollar up slightly, bitcoin up ~3%; crude jumps; gold slides >1%

U.S. 10-Year Treasury yield jumps to ~4.23%

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WALL ST ENDS UP AFTER BETTER-THAN-EXPECTED JOBS DATA

The three major U.S. stock indexes ended higher on Friday and the S&P 500 registered a sixth straight week of gains - its longest weekly winning streak since November 2019, after data that showed the U.S. economy added more jobs than expected in November.

The S&P 500 also posted its highest closing level since March 2022.

The jobs data led traders to trim expectations that the Federal Reserve could cut interest rates as soon as March, but the report boosted optimism that there could be a soft landing for the U.S. economy.

Separately Friday, a survey showed U.S. consumer sentiment perked up much more than expected in December, snapping four straight months of declines.

Many participants expect the Fed is likely done with its rate-hiking cycle, and that view has helped fuel strong gains in the U.S. stock market in recent weeks.

The energy index .SPNY rose ~1.1% on the day - the biggest gain of any S&P 500 sector - while consumer staples .SPLRCS fell ~0.7% and was the benchmark's weakest industry group on the day.

Microsoft MSFT.O and Nvidia NVDA.O rose and were among the biggest boosts for the S&P 500.

Here is the closing market snapshot:


(Caroline Valetkevitch)

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Closing snapshot https://tmsnrt.rs/3t8RshS

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