Investing.com -- The Dow staged a rebound to close higher Friday, shrugging off rising Treasury yields after a"goldilocks" jobs report showing higher than expected job gains in September, but a surprise slowing of wage growth stoked optimism that the economy can avoid a recession despite higher for longer Federal Reserve interest rates.unexpectedly slowed to 0.2% for the month and 4.
Others agree, with Scotiabank Economics saying in a Friday note “what the FOMC may focus upon more than jobs is the fact that average hourly earnings have hit a new soft patch in Goldilocks fashion.”Treasury yields retreated from session highs, but upside was supported by growing bets on another Federal Reserve rate hike by the end of year ticked higher.Odds for a December rate hike jumped to nearly 40% on Friday from about 31% a day earlier, according to the Investing.
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