NEW YORK (AP) — Stocks notched modest gains and Treasury yields soared Friday on Wall Street after a healthy report on the U.S. job market strengthened expectations for coming interest rate hikes.
The S&P 500 rose 0.3% after bouncing between small gains and losses. The benchmark index eked out a slight gain for the week, it’s third straight amid lingering concerns about high inflation, higher interest rates from the Federal Reserve and the economic effects of the war in Ukraine.
The Dow Jones Industrial Average rose 0.4% and the Nasdaq composite rose 0.3%. Small company stocks outgained the broader market, driving the Russell 2000 1% higher.
The sharpest action was again in the bond market, where the yield on the two-year Treasury approached its highest level in more than three years.
Yields jumped after a U.S. government report showed employers added 431,000 jobs last month. That was slightly below economists’ expectations for 477,500, but the report also revised earlier…
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2022-04-01 06:39:15
