Highlights
A hotter than expected jobs report lifted bond yields and hurt stocks Friday. At 1:15 PM ET, the Dow Jones industrial average fell 0.5 percent while the S&P 500 lost 0.4 percent and the Nasdaq was down 0.3 percent. Oil prices were flat to lower and the dollar was slightly higher.
News that nonfarm payrolls jumped by 162,000, far more than the 55,000 markets expected sent bond yields higher and expectations rose somewhat for a 25 basis point rate increase from the Federal Reserve this month. Market sentiment was also defensive on the latest round of strikes between the US and Iran along with an apparent rise in strikes between Russia and Ukraine.
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