S&P 500 rallies as markets digest soft US jobs data, Fed rate hike pause

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S&P 500 rallies as markets digest soft US jobs data, Fed rate hike pause
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Wall Street finished the week with gains on Friday, following a turbulent week that witnessed the US Federal Reserve (Fed) decision to hold rates, while traders priced in the Fed finished its tightening cycle.

S&P 500 ended the week up by 0.9%, with the Nasdaq and Dow Jones also posting significant gains, reflecting a positive shift in investor sentiment. U.S. labor market data showing a slowdown in job growth fueled speculation that the Federal Reserve may halt rate hikes. Fed officials Thomas Barkin and Neil Kashkari highlighted the uncertainty about the future path of interest rates, emphasizing the need to remain data-dependent.

39%, respectively. The only loser was Energy, 1.01% below its opening price, weighed by falling Oil prices, as the Middle East conflict extended for the fourth straight week. On Friday, the Greenback posted losses of more than 1%, as the US Dollar Index ended at the brisk the 104.00 handle, around 105.06. US Treasury bond yields dropped, with the US 10-year Treasury bond yield dropping eight basis points to 4.57%.

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