Stocks Rise to Records, Treasuries Surge Amid Jobs: Markets Wrap

  • Hiring and wage growth come in below forecasts in May
  • S&P 500, Dow, Nasdaq close at all-time highs on tech rally

Market Strategist Sees Lots of Reasons for Oil Skepticism

Lock
This article is for subscribers only.

The dollar weakened and Treasuries advanced with gold after the latest jobs report offered mixed signals on the strength of the American labor market, while U.S. stocks pushed to fresh records as technology shares extended a rally.

The Nasdaq 100 Index jumped more than 1 percent to an all-time high as Microsoft Corp. surged the most in six months to a record. Gains in rate-sensitive shares drove the S&P 500 Index to a new high after the 10-year Treasury yield slumped to the lowest level of the year following wage growth and hiring that was below forecasts. The Bloomberg dollar index fell to the lowest since November. Gold jumped and oil capped its worst week in a month.