The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average all scaled fresh record highs late on Friday, with the Dow less than one solitary point from hitting 20,000. The index managed to hit 19,999.63.
Meanwhile, the market bellwether S&P 500 hit 2,282.10 and the tech-heavy Nasdaq, hitting record after record throughout the session, peaked at 5,536.52.
Although the US non-farm payrolls were weaker than expected in December, wage growth was running at its fastest clip since the height of the financial crisis in 2009.
The jobs report – which reinforced the view that the Federal Reserve will continue tightening rates this year – prompted a sell-off in US Treasuries, with the yield on the US 10-year, which moves inversely to price, rising 6.8 basis points to 2.414%.
Story by ProactiveInvestors