NEW YORK: Friday’s stronger-than-expected payrolls report did more than ease concerns about US economic fundamentals – it also seemed to justify Wall Street’s record levels, suggesting the market’s uptrend could continue.
February’s jobs report followed two straight months of payroll reports that were sharply below expectations, and the rebound reinforced the theory that the weakness in December and January had been temporary, related to weather as opposed to worsening fundamentals.
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