Stocks edged higher on Wall Street after a choppy day of trading.
A choppy day of trading on Wall Street ended Friday with slight gains for stocks, as the market notched its second straight winning week.U.S. job growth increased
at a healthy but more moderate pace last month. The report supports investors’ hopes that the Federal Reserve will hold off on raising interest rates again even as it seeks to lower inflation. After initially rising as much as 0.8% after the release of the jobs report, the major indexes shed most of their gains and spent the day wavering between small gains and losses.
The Standard & Poor’s 500 finished 0.2% higher. The benchmark index was coming off its first monthly loss since February. The Dow Jones industrial average rose 0.3% and the Nasdaq composite closed less than 0.1% lower. Still, that slight dip broke its five-day winning streak. The Labor Department reported Friday that employers added a solid 187,000 jobs in August. The job growth marked an increase from July’s revised gain of 157,000 but still pointed to a moderating pace of hiring compared with earlier this year. From June through August, the economy added 449,000 jobs, the lowest three-month total in three years.
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