Bonds & Stocks
Stocks edged higher while Treasuries remained under pressure after the latest US jobs report reinforced Wall Street’s bets that the Federal Reserve will leave interest rates on hold for the near term.The S&P 500 rose 0.3% following a December payrolls reading. The yield on two-year Treasuries rose nearly 5 basis points immediately after the report before settling around 3.52%.
Economy
US employers added fewer jobs than expected in December, capping a yearlong slowdown in the labor market defined by cautious hiring and limited layoffs. Nonfarm payrolls increased 50,000 last month after downward revisions to the prior two months, according to Bureau of Labor Statistics data out Friday.
World
The oil market is becoming increasingly responsive to events in Iran, where there have been deadly protests — and and threats of US retaliation — in the past several days. Brent oil futures have risen more than 4% in the past two sessions — having previously given up all gains from the aftermath of US forces capturing Venezuelan president Nicolás Maduro at the weekend.