Major North American stock indexes finished higher on Friday after a strong U.S. jobs report reinforced the view that the world’s biggest economy remains healthy even as it suggested the Federal Reserve could delay cutting interest rates.
The S&P/TSX composite index closed up 212.59 points, or 0.96%, at 22,264.38 – a new all-time high after a broad advance across sectors. It notched its longest weekly winning streak in five years
All major S&P 500 sectors advanced, with communication services, industrials and technology the top gainers.
U.S. Labor Department data showed employers hired far more workers in March than expected and kept steadily lifting wages, suggesting the economy ended the first quarter on solid ground.
The data stoked expectations the Fed will likely delay cutting interest rates given that a recession is nowhere in sight, said Tom Plumb, president and portfolio manager at Plumb Funds in Madison, Wisconsin.
“What we…
