US Stocks Rebound as Wall Street Debates Rates: Markets Wrap
- US payrolls rise more than forecast, unemployment steadies
- S&P 500 snaps weekly losing streak as bond losses accrue
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US stock benchmarks rebounded after a tense week while the retreat in Treasuries extended as Wall Street debated the odds the Federal Reserve will raise interest rates again this year.
The S&P 500 advanced 1.2% Friday with the benchmark snapping its four-week losing streak after a last minute deal with the autoworkers union helped buoy sentiment. The Nasdaq 100 jumped 1.7% with large-cap tech names, including Microsoft Corp., Apple Inc. and Nvidia Corp., powering the index higher.