Business

Snapshot: Latest jobs report lifts stocks for the week

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The stock market closed higher for the week, boosted by a better-than-expected jobs report Friday. Treasury bond prices sank Friday, sending the 10-year yield to the highest intraday level since August 2011, and the dollar climbed to its highest level since 2010. Stocks fluctuated amid light trading following the July Fourth holiday but climbed in the last hours before the markets closed. The jobs report fueled bets that the Fed will begin to reduce its bond-buying program as early as September. The Fed has indicated that it will start tapering its stimulus when it sees a sustainable recovery in the employment market.

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