Stocks Rise on Weak Jobs Data; Bonds Resume Selling
Major stock indexes advanced and the dollar weakened on Friday following softer-than-expected U.S. jobs data, which lowered expectations for a Federal Reserve interest rate hike this month. However, bond yields climbed as the market continued its selloff.
Major stock indexes climbed on Friday and the dollar slipped after softer-than-expected US jobs data reduced expectations for a Federal Reserve rate increase later this month. Yields, however, rose again as the bond market resumed a broader selloff that was already under way.