Stocks hit new high as weak jobs report eases rate-hike fears

Stocks rose and Treasury yields fell Friday after a government report showed employers unexpectedly cut 23,000 jobs last month. The S&P 500 gained 0.6%, setting a new all-time high after already reaching a record earlier in the week.

The Dow Jones Industrial Average rose 151.83 points, or 0.3%, to 54,036.93. The Nasdaq composite jumped 342.26 points, or 1.3%, to 26,690.62, and the Russell 2000 index of smaller companies added 32.95 points, or 1.1%, to 3,034.49.

The weaker jobs data raised investor hopes that the Federal Reserve can hold off longer before raising interest rates to fight inflation.

Read the full story at lancasteronline.com.