Stocks Turn Positive After Crude Oil Jumps Another 3%, Upstaging Above-Consensus Payrolls Rise
Stocks were rising for a fourth consecutive day, supported by gains for energy stocks as crude oil prices extend their recent rally. The markets initially turned lower ahead of the opening bell after the Labor Department reported an increase of 242,000 new jobs last month, soundly beating estimates for 190,000 new jobs. But the upbeat payroll number was tempered somewhat by a 0.1% contraction in average hourly earnings during February, which some investors see as convincing the Federal Reserve to delay their next increase in interest rates.
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