Economy
US stocks advance as softer jobs data cools rate-hike bets
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THE BRIEF
1
US stocks advanced on Friday with the Nasdaq Composite climbing to an intraday record high after weaker-than-expected jobs data dampened Federal Reserve rate-hike expectations.
2
The Labor Department reported nonfarm payrolls increased by 29,000 jobs last month, falling significantly short of the 90,000 estimate by Reuters-polled economists.
3
The Dow Jones Industrial Average rose 0.43% to 51,143.70, the S&P 500 gained 0.70% to 7,720.44, and the Nasdaq added 1.14% to 27,179.15.