US STOCKS-S&P 500, Dow hit record highs as weak jobs data eases rate worries [Reuters]
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Source: Reuters
S&P 500, Dow hit record highs as weak jobs data eases rate worries By Krystal Hu , Shreyashi Sanyal 2 Min Read (Reuters) - The S&P 500 and the Dow hit record highs on Friday, while the Nasdaq recovered along with heavily weighted growth stocks as U.S. jobs data eased concerns over prospects for rising rates. U.S. job growth unexpectedly slowed in April, likely restrained by shortages of workers, the Labor Department report showed. The report alleviated some concerns about rising inflation and potentially higher U.S. interest rates, which some investors worry would hurt growth companies with high valuations. “The anticipation and confirmation of (Federal Reserve) policy staying the same and continued economic recovery with vaccines rollout have fueled these all-time highs, but we do believe the volatility is going to be tightened in the short term,” said Greg Bassuk, chief executive at Axs Investments. Heavily-weighted growth stocks such as Microsoft Corp, Apple Inc and Alphabet all r
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