Wall Street gains as interest rate worries ease on the back of jobs and services data

(Reuters) – Major Wall Street indexes closed higher on Friday, boosted by reports that despite stronger-than-expected US jobs, wage increases have slowed and services activity has contracted, easing fears about the progress of the Federal Reserve’s rate hikes.

According to preliminary data, the index finished up 86.34 points, or 2.27%, at 3,894.44 points, while the Nasdaq Composite Index rose 259.71 points, or 2.52%. , to 10,564.95 points, while the industrial index rose 694.21 points, or 2.11%, to 33,624.29 points. .

(Prepared by Mahmoud Salama for the Arab Bulletin)