Stocks edge higher, Treasury yields soar after strong jobs data

Stocks notched modest gains and Treasury yields soared Friday on Wall Street after a healthy report on the U.S. job market strengthened expectations for coming interest rate hikes.

“This was a solid report,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.Despite high gas prices, a vehicle shortage is putting the brakes on what should be an EV boom and pushing buyers to search for work-arounds. A strong job market and economy give the Federal Reserve more leeway to raise interest rates sharply to beat down thethat’s sweeping the country. The Fed has already raised its key overnight rate once, the first such increase since 2018. After Friday’s job report, traders increased bets that the Fed will raise rates at its next meeting by double the usual amount.

Such a flip of the usual relationship between two- and 10-year yields has preceded many recessions in the past, though it hasn’t been a perfect predictor. Some market watchers caution the signal may be less accurate this time, because of distortions in yields caused by extraordinary measures by the Federal Reserve and other central banks to keep interest rates low.Amazon workers in Staten Island, N.Y., have voted to unionize, marking the first successful U.S.

Progress How could President Biden allow that

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