Stocks Hit Highest Since February on Jobs Surprise: Markets Wrap
Stocks closed at their highest since February and bond yields rose as jobs data allayed concerns of an imminent economic slowdown. Equities also gained amid hopes US-China trade tensions are easing, with President Donald Trump saying negotiators will talk Monday.
A 1% advance in the S&P 500 drove the gauge to the 6,000 mark. All major industries climbed. Tesla Inc. jumped over 3.5% to lead megacaps higher. Treasuries dropped across the curve, with two-year yields topping 4%. Money markets trimmed bets that the Federal Reserve will cut interest rates this year. The dollar rose. Bitcoin also got a boost.