: S&P 500, Nasdaq notch best week in over a month as stocks jump after blowout jobs number
U.S. stock indexes rallied on Friday to finish the volatile trading week in the green as Wall Street debated on whether a blockbuster surge in jobs created last month could make the Federal Reserve raise interest rates again this year, though wages growth are moderating. The S&P 500 SPX advanced a modest 0.5% for the week with the benchmark index snapping its four-week losing streak, while the Dow Jones Industrial Average DJIA was down 0.3% and the Nasdaq Composite COMP jumped 1.6%, according to Dow Jones Market Data. On Friday, September jobs report showed the economy created 336,000 jobs last month, nearly twice the number expected, but the unemployment rate held steady at 3.8%, and hourly wages rose a mild 0.2% to mark their slowest annual growth rate in 18 months. A stronger-than-expected nonfarm payrolls report Friday triggered a renewed round of selling in the U.S. bond market, with the yield on the 10-year Treasury BX:TMUBMUSD10Y up 5 basis points to 5.077%, after touching an intraday high of 5.21% on Friday. The yield on the 30-year Treasury BX:TMUBMUSD30Y climbed 5 basis points to 4.941%, the highest since Sept. 20, 2007, according to Dow Jones Market Data.
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