From Nasdaq:

Wall Street rose on Thursday, boosted by financial stocks and strong jobs data causing investor expectations for interest-rate cuts to shift. Recovery follows S&P 500’s worst two-day performance since October, with stocks see-sawing and US payrolls up by 164,000 in December, amounting to a 63k increase from the previous month due to a 1.1% payroll increase. (98 words)

The chance for at least a 25-basis point (bps) rate cut is 66.4% in March and is a near 93% probability for May, according to the CME Group’s FedWatch tool. (27 words)

Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey said, “Today’s numbers were a little muted, they weren’t something that says, we need to cut rates tomorrow. So what you’re seeing is people resetting expectations as to when those rate cuts will start.” (34 words)

By 11:29 a.m. ET, the Dow Jones Industrial Average .DJI was up 274.77 points, or 0.73%, at 37,704.96, the S&P 500 .SPX was up 20.24 points, or 0.43%, at 4,725.05, and the Nasdaq Composite .IXIC was up 31.25 points, or 0.21%, at 14,623.46. Apple AAPL.O slid 1.1% after brokerage Piper Sandler downgraded the iPhone maker to “neutral”, days after Barclays also cut its rating. (57 words)

Advancing issues outnumbered decliners by a 1.77-to-1 ratio on the NYSE and by a 1.47-to-1 ratio on the Nasdaq. The S&P index recorded 16 new 52-week highs and no new lows, while the Nasdaq recorded 45 new highs and 50 new lows. (48 words)



Read more: US STOCKS-Wall St climbs on financials boost; investors parse jobs data