Stocks Gain After Jobs as Emerging Markets Surge, Bonds Retreat

U.S. stocks rose as Treasuries fell, as investors weighed a surge in hiring that came with negative wage growth, clouding the path of monetary policy. Emerging-market equities posted their best week since December 2011.

Gains by technology and financial shares offset health-care companies as the Standard & Poor’s 500 Index had a third straight weekly advance. The yield on the 10-year Treasury note climbed to the highest level in a month, as better-than-expected job growth bolstered bets the Federal Reserve will raise interest rates this year. A gauge of emerging-market currencies erased losses for the year, with Brazil’s real jumping after news the federal police raided the house of former President Luiz Inacio Lula da Silva, fueling speculation a change in government is imminent.