Jobs data lifts Wall Street after string of losses – Chicago Tribune


NEW YORK (Reuters) – U.S. stocks rose on Friday after a stronger-than-expected payrolls report gave traders confidence that the economy could be healthy enough to withstand a scaling back of the Federal Reserve’s stimulus.

Wall Street & BroadwayThe jobs-driven rally gave the S&P 500 its best day in nearly a month. But the broad index was still on track to post its first negative week in nine after falling in the previous five sessions.

Nonfarm payrolls added 203,000 in November, exceeding the forecast, and the U.S. unemployment rate fell to a five-year low of 7.0 percent. The Labor Department’s report raised the prospects that the Fed would begin to taper its stimulus program sooner rather than later.

By: Rodrigo Campos Reuters

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