Stocks Rebound on Strong March Jobs Report Despite Slowing Wage Growth

• Wall Street stocks rose after March jobs data showed strength in the labor market despite expectations of a slowdown • The unemployment rate dropped to 3.8% from 3.9%, beating forecasts, though wage growth moderated • The data lowered chances of a rate cut by the Fed in June to 56% from 60% previously • U.S. Treasury yields advanced following the jobs report, with the 10-year note yield rising to 4.3655% • Major indexes were still headed for weekly losses due to mixed economic signals and hawkish Fed comments earlier in the week