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Wall Street rises toward records following mixed data on the job market
Stocks rose on a mixed jobs report and corporate deals, with power and homebuilding stocks leading; traders now see only a 5% chance of a Fed rate cut this month, CME Group data shows.
- On Friday, U.S. stocks rose toward records following a mixed U.S. jobs report, with the S&P 500 up 0.5% and the Nasdaq composite 0.7% higher as of 11:45 a.m.
- The U.S. Labor Department's December report showed fewer hires but a falling unemployment rate, leading traders to scale back expectations for a Fed rate cut as the two-year Treasury yield rose to 3.52%, CME Group data showed.
- Energy stocks, including Vistra, soared after a long-term contract, while Oklo jumped 12.3% and Builders FirstSource rose 8.5%, driven by corporate-deal news.
- The mortgage-bond plan proposed late Thursday lifted homebuilders and housing stocks as analysts expect lower rates this year but advise patience.
- The 10-year Treasury yield eased to 4.17% late Thursday as University of Michigan data showed one-year inflation expectations near a one-year low, while global markets also climbed, with the CAC 40 up 1.3% and the Nikkei 225 up 1.6%.
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15 Articles
Coverage Details
Total News Sources15
Leaning Left3Leaning Right1Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 27%
C 64%
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