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Stock market today: Indexes end lower as traders look to jobs report for clues on Fed policy

The U.S. stock market experienced a significant rally on Friday following the release of the November jobs report, which indicated a robust addition of 199,000 jobs, surpassing expectations. This strong employment data, coupled with a slight uptick in the unemployment rate to 3.7% and a 0.4% increase in average hourly earnings, suggested a resilient labor market. Investors interpreted this as a sign that the Federal Reserve might maintain current interest rates, leading to a surge in stock prices. The Dow Jones Industrial Average, S&P 500, and Nasdaq all closed higher, with gains of 0.4%, 0.4%, and 0.43% respectively. Additionally, the market's positive reaction was influenced by comments from Federal Reserve Chairman Jerome Powell, who hinted at a cautious approach to future rate hikes. Meanwhile, Bitcoin also saw a rise, increasing by 1.5% to $43,900, reflecting broader market optimism.

Read the Full Business Insider Article at:
[ https://markets.businessinsider.com/news/stocks/stock-market-today-november-jobs-report-fed-powell-bitcoin-2024-12 ]