S&P 500 ends slightly lower after jobs report

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Reuters

By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 closed slightly lower on Friday, although major indexes rallied off their worst levels of the day, as the November payrolls report fueled expectations the Federal Reserve would maintain its path of interest rate hikes to combat inflation. The Labor Department’s jobs report showed nonfarm payrolls rose by 263,000, above expectations of 200,000 and wage growth accelerated even as recession concerns increase. The U.S. unemployment rate remained unchanged, as expected, at 3.7%. “Wage growth has been in an uptrend since August,” said Brian Jacob…

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