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Stocks Score Weekly Gain as Jobs Fuel Rate Bets: Markets Wrap

  • The two- and 10-year yield curve inverted for fourth day
  • The dollar wavered as traders remain mixed on the jobs report
Bloomberg business news
WATCH+ BMO’s Chief Investment Strategist Brian Belski gives his market outlook.Source+ Bloomberg
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US stocks notched a weekly gain after a strong jobs report alleviated recession fears but cleared the path for the Federal Reserve to keep raising interest rates to fight inflation. 

The S&P 500 closed flat on Friday after struggling for direction throughout the session. The Nasdaq 100 rose, scoring its longest winning streak this year. Treasuries slumped, with the two- and 10-year yield curve remaining inverted for the fourth straight day. The Bloomberg Commodity Index suffered its longest streak of weekly losses since March 2020.