Wall Street Rallies, in Fits and Starts, After Jobs Report
NEW YORK— Stocks rallied Friday, but only after yo-yoing several times, as Wall Street struggled with what to make of the latest reading on the U.S. jobs market and what it means for interest rates and the odds of a recession.
The S&P 500 climbed 1.4 percent after seeing an even bigger rally from the morning disappear completely, only to recover at the end of the day. The Dow Jones Industrial Average rose 1.3 percent after veering from a gain of 610 points to a loss of 62, while the Nasdaq composite added 1.3 percent.
The latest set of gyrations in what’s already been a wild year for markets followed a U.S. government report showing the unemployment rate ticked higher in October, employers added fewer jobs than they had a month earlier and gains for workers’ wages slowed a touch….