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Topline
Stocks surged Friday on news of a cooling labor market, a necessary condition for the Federal Reserve to stand down from its most aggressive monetary policy in decades which has sent stocks spiraling, even though a prominent Fed official said the latest jobs report did little to change his mindset.
Key Facts
The U.S. added more jobs than expected in December and the unemployment rate surprisingly fell, according to data from the Labor Department, while wages were up 4.6% on a 12-month basis, the slowest pace of worker pay gains since August 2021.
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