US STOCKS – Indexes cap week of gains on jobs data, oil – Reuters India- Topic: Stock Trading News
Technology and industrial stocks were among the best performers after the Labor Department’s monthly report on job creation topped expectations. Shares of major oil companies rose as New York oil prices hit 10-month highs. The energy sector was the biggest advancer out of all 10 S&P 500 sectors, with the S&P Energy index up 1 percent. If there’s anything to fear, it is that the moderation in inflation will prove temporary because the labor market is tightening,” said Charles Lieberman, chief investment officer of Advisors Capital Management, LLC in Paramus, New Jersey. Interest-rate sensitive sectors, such as utilities, dipped as the jobs data erased expectations the Federal Reserve would ease monetary policy, sending bond yields higher. The stocks, which pay relatively generous dividends, face competition when bond yields rise from investors seeking, steady income assets. read more
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