Wall St ends up after better-than-expected jobs data
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:
FOR FRIDAY'S OTHER LIVE MARKETS POSTS:
ARE HOLIDAY SHOPPERS SAYING BAH HUMBUG SO FAR? - CLICK HERE
INDIVIDUAL INVESTOR BEARS STAGE A REBOUND - AAII - CLICK HERE
RARE SIGNALS MAY HAVE BULLS SMILING - CLICK HERE
JOBS, HAPPY CONSUMERS FOR CHRISTMAS: EMPLOYMENT REPORT, UMICH CLICK HERE
WALL STREET SHRUGS AFTER JOBS DATA THEN CHEERS AFTER UMICH CLICK HERE
US BANKING REGULATOR OCC ADVOCATES CAUTION AMONG AI FRENZY CLICK HERE
U.S. STOCK FUTURES DIGEST LATEST JOBS DATA CLICK HERE
J.P. MORGAN'S DIM OUTLOOK FOR 2024 CLICK HERE
WHICH EUROPEAN EQUITIES COULD BE THE SAFEST BETS IN 2024? - BOFA CLICK HERE
FINAL STRETCH FOR 'EVERYTHING RALLY'? CLICK HERE
DON'T COUNT ON RATE CUTS NEXT YEAR CLICK HERE
NOVEMBER PAYROLLS: RISKS TO THE UPSIDE? CLICK HERE
STOXX GETS LEISURE BOOST BUT MINERS DRAG CLICK HERE
EUROPEAN FUTURES RISE AHEAD OF U.S. PAYROLLS CLICK HERE
JAPAN DRAGS DOWN BONDS AS US PAYROLLS LOOM CLICK HERE
Closing snapshot https://tmsnrt.rs/3t8RshS
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