NEW YORK, United States – Wall Street stocks scaled new heights Friday as a lackluster US jobs report was seen as bolstering the case for US President Joe Biden’s $1.9-trillion stimulus plan.
The S&P 500 and the Nasdaq ended at records for a second straight day following the jobs data. Analysts also cited progress on coronavirus vaccines as a factor in extending the rally.
The closely-watched jobs data showed the unemployment rate dropped to 6.3 percent in January but the economy added only 49,000 jobs, the Labor Department said.
Stephen Innes, chief global markets strategist at Axi, called the report a “double clunker” as the December figure was revised to sho…
Keep on reading: US stocks end at fresh records as jobs data boosts stimulus odds