Wall Street rallies on Powell comments, jobs report
- 5 years ago
It seems like huge swings on Wall Street have become the new norm recently.
U.S. stocks surged on Friday, boosted by a strong jobs report and Federal Reserve Chairman Jerome Powell's remarks on patience and sensitivity to risks in the markets.
The Dow and S&P 500 closed more than 3 percent higher,... and the Nasdaq jumped around 4-point-three percent, reversing sharp falls from a day earlier...which were triggered by a massive drop in Apple's shares.
The Fed chair said Friday the central bank will be patient in raising rates and is always prepared to shift the stance of its policy if needed..., allaying investors' fears that the Fed was determined to raise rates despite some signs of an economic slowdown.
The U.S. jobs report also showed the world's largest economy added 312-thousand jobs in December, higher than the expected 176-thousand jobs.
U.S. stocks surged on Friday, boosted by a strong jobs report and Federal Reserve Chairman Jerome Powell's remarks on patience and sensitivity to risks in the markets.
The Dow and S&P 500 closed more than 3 percent higher,... and the Nasdaq jumped around 4-point-three percent, reversing sharp falls from a day earlier...which were triggered by a massive drop in Apple's shares.
The Fed chair said Friday the central bank will be patient in raising rates and is always prepared to shift the stance of its policy if needed..., allaying investors' fears that the Fed was determined to raise rates despite some signs of an economic slowdown.
The U.S. jobs report also showed the world's largest economy added 312-thousand jobs in December, higher than the expected 176-thousand jobs.