Business

Stocks rally, bonds fall as jobs miss shrugged off

Equities worldwide extended their stellar start to 2018 Friday, with US indexes rising to record highs for a third consecutive day, as the synchronized growth story continues to win over investors. Treasuries slumped and the dollar was flat after a report showed US payroll gains slowed by more than forecast in December, wages picked up slightly, and the jobless rate held at the lowest level since 2000. The S&P 500 Index powered to a fresh record and registered its best week since December 2016 as investors looked past the jobs miss, speculating that Republican tax cuts will lead to higher corporate earnings. The Dow Jones Industrial Average and Nasdaq Composite Index also hit all-time highs. ‘‘I wouldn’t overreact to this report,’’ Alan Krueger, a professor of economics at Princeton University, said on Bloomberg Television. ‘‘I don’t think this really changes the economic outlook all that much for 2018.’’

Advertisement