Markets rise after stronger-than-expected November jobs data

What we’re covering here US stocks rose Friday morning after the November jobs report from the Bureau of Labor Statistics showed 199,000 jobs were added last month and the unemployment rate fell to 3.7%. Economists expected US employers would add around 180,000 positions and the unemployment rate would hold steady at 3.9%. As the economy — and job growth — continue to cool, investors have been betting the Federal Reserve is done hiking interest rates. The continued strength in the labor market has helped to fuel consumer spending and economic growth, but the Fed believes slower demand will help bring down inflation. 20 Posts LatestLatestLatestOldestOldest 47 min ago Stocks pare back gains early Friday as yields spike Stocks gave up some of their earlier gains on Friday, as Treasury yields rose on the stronger-than-expected labor report. The Dow rose 40 points, or 0.1%. The S&P 500 gained 0.1% and the Nasdaq Composite added 0.2%. The yield on the 10-year Treasury note was trading at 4.25%, after the latest jobs reading showed the labor market is staying resilient despite interest rates at a 22-year high. Still, the S&P 500 remains within striking distance of its 2023 high, as optimism grew on Wall Street that a labor market that stays robust as inflation cools will help the Fed achieve a “soft landing” for the economy, or lower inflation without triggering a recession. 14 min ago Unemployment among Black men rose sharply last month From CNN’s Bryan Mena An attendee signs into a career fair hosted by the New Hanover NCWorks and the Cape Fear Workforce Development Board in Wilmington, NC, in June. Allison Joyce/Bloomberg/Getty Images The unemployment rate for Black men older than 19 rose sharply in November as more workers across demographic groups trickled into the job market. Unemployment among […]

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By Donato