Stocks Rally as Traders Cheer U.S. Economic Data: Markets Wrap
- Jobs trounce forecasts with 266,000 gain as wages heat up
- U.S.-China deal is still close, Trump adviser Kudlow says
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Stocks rallied around the globe and Treasuries fell as better-than-expected data bolstered confidence in the world’s largest economy.
The S&P 500 Index extended its advance into a third day after reports showed payrolls jumped 266,000 -- the most since January -- as wages beat estimates while consumer sentiment increased. Energy, financial and industrial shares led gains in the equity gauge, which posted its biggest rally in five weeks. The dollar rose, and Treasury 10-year yields traded above 1.8%. Oil surged.