Stock market today: Wall Street hits 2023 high as it mulls whether economy is too warm or just right

Wall Street climbed to its highest level in 20 months following a stronger-than-expected report on the U.S. job market.
Wall Street climbed to its highest level in 20 months following a stronger-than-expected report on the U.S. job market. The S&P 500 rose 0.4% to clinch its longest weekly winning streak in four years. The Dow and Nasdaq also gained 0.4%. Treasury yields rose more sharply following the report, which said U.S. employers added more jobs than economists expected last month. The strong data keep concerns about a recession at bay, but the worry is a strong economy could also give inflation more fuel. That pushed traders to curtail bets for how many times the Federal Reserve will cut interest rates next year.

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