Key Points
NEW YORK (Reuters) -A gauge of global stocks rose on Friday, on pace for its sixth straight week of gains, while U.S. Treasury yields shot higher after a strong U.S. jobs report forced markets to modify expectations for the timing of rate cuts by the Federal Reserve...
U.S. job growth accelerated in November, with the Labor Departments employment report showing nonfarm payrolls increased by 199,000 jobs last month, above the 180,000 estimate of economists polled by Reuters, after rising by an unrevised 150,000 in October..
Ahead of the payrolls report, a string of labor market data this week indicated some softening in the jobs market, while other reports in recent weeks showed a cooling of inflation and led markets to increase expectations the Federal Reserve would have the leeway to cut interest rates as soon as March...
On Wall Street, stocks closed higher after a choppy session with the S&P 500 closing at its highest level since March 2022, led by a 1.1% gain in energy shares as oil prices bounced..
Crude prices bounced after a recent slump but oil benchmarks were on track for a seven-week decline, the longest in five years, after Saudi Arabia and Russia lobbied OPEC+ members to join output cuts...
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