Stock indexes ended mixed and Treasury yields jumped Friday as Wall Street’s expectations rise that the Federal Reserve may soon start raising interest rates sharply.
The Labor Department said employers added 467,000 jobs last month, triple economists’ expectations. The stronger-than-expected data seems to lock in the Fed’s pivot toward fighting inflation by making moves that would ultimately act as a drag on markets.
On Friday:
The S&P 500 rose 23.09 points, or 0.5%, to 4,500.53.
The Dow Jones Industrial Average fell 21.42 points, or 0.1%, to 35,089.74.
The Nasdaq rose 219.19 points, or 1.6%, to 14,098.01.
The Russell 2000 index of smaller companies rose 11.33 points, or 0.6%, to 2,002.36.
For the week:
The S&P 500 is up 68.68 points, or 1.5%.
The Dow is up 364.27 points, or 1%.
The Nasdaq is up 327.43 points, or 2.4%.
The Russell 2000 is up 33.85 points, or 1.7%.
For the year:
The S&P 500 is down 265.65 points, or 5.6%.
The Dow is down 1,248.56 points, or 3.4%.
The Nasdaq is down 1,546.96 points, or 9.9%.
The Russell 2000 is down 242.95 points, or 10.8%.
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