Stock Market Today: Stocks Bounce On Firm Jobs Data, Muted Wages

Stock Market Today: Stocks Bounce On Firm Jobs Data, Muted Wages

Updated at 9:58 a.m. EST

US stocks rose solidly higher on Friday, with investors looking for a four-day losing streak on Wall Street but hedging a week-end recovery following a mixed employment report in October.

The U.S. economy added 261,000 new jobs last month, the Labor Department said, revising the September total from 56,000 to 319,000. The BLS noted hourly wages were up 0.4%, the biggest monthly increase since July and ahead of Street’s forecast.

On an annual basis, however, wages rose 4.7%, slowing from last month’s 5% pace and indicative of further moderation in the final months of 2022 and beyond.

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