S&P 500, Dow hit record highs as weak jobs data eases rate worries – Reuters

  • Date: 08-May-2021
  • Source: Reuters
  • Sector:Economy
  • Country:Middle East
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S&P 500, Dow hit record highs as weak jobs data eases rate worries – Reuters

The Dow and S&P 500 hit record closing highs on Friday while registering gains for the week, and the Nasdaq recovered after U.S. jobs data eased concerns over prospects for rising rates.

U.S. job growth unexpectedly slowed in April, likely restrained by shortages of workers, the Labor Department report showed. (Full Story)

The report alleviated some concerns about rising inflation and potentially higher U.S. interest rates, which some investors worry would hurt growth companies with high valuations.