US stocks rise after monthly jobs data boosts December rate-cut bets
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Wall Street's main indexes edged higher on Friday, with the S&P 500 and the Nasdaq touching intraday record highs as traders increased bets on a Federal Reserve rate cut this month following robust November payrolls data. U.S. job growth surged in November after being severely constrained by hurricanes and strikes, but this is unlikely to signal a material shift in labor market conditions, which continue to ease steadily and would allow the Fed to cut interest rates again this month. "This jobs report came out right in the Goldilocks zone - not too hot so as to derail interest-rate cuts in December (or next year), but also not too cold, which could have spooked financial markets about the underlying health of the U.S. economy," said Josh Jamner, investment strategy analyst, ClearBridge Investments. Traders boosted bets the U.S. central bank would cut interest rates this month, now signaling a more than 90% chance of a 25...