BloombergNEW YORK (Bloomberg) — U.S. stocks rose while Treasuries fell as the latest labor report showed the American economy continued to strengthen without the prior month’s rapid wage gains that stoked inflation fears. The dollar weakened against most peers.
The S&P 500 rose to the highest since Feb. 1, capping a 3.5 percent rally in the week after employers hired the most workers in almost two years and wages remained stagnant, allaying fears the Federal Reserve may accelerate its rate-hike schedule. The measure sits 3 percent below its all-time high. Tech shares paced gains, taking the Nasdaq Composite to a fresh record as it capped a 12 percent rally since a February low.
Ten-year Treasury yields headed for the first one-week advance in three, while the greenback slid against most major currencies except for the Japanese yen. West Texas crude advanced toward $62 a barrel.Speech