U.S. stocks rose to more records Friday after a highly anticipated report on the job market bolstered Wall Street’s hopes that interest rates may soon get easier. The S&P 500 climbed 0.5% to set an all-time high for a third straight day following Thursday’s pause in trading for the Fourth of July holiday. The index has already set 34 records and climbed close to 17% this year, which is only a little more than halfway done. The Dow Jones Industrial Average rose 67 points, or 0.
services and manufacturing sectors contracted last month, turning in weaker readings than economists expected. And U.S. shoppers at the lower end of the income spectrum have been showing how difficult it is to keep up with still-rising prices, as balances owed on credit cards swell. “What matters for long-term investors is whether fears of a recession become a reality,” said Brian Jacobsen, chief economist at Annex Wealth Management.
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