Shares of banks and other financial institutions rose sharply as traders bet global markets were set to stabilize in light of a December jobs report that was neither too hot nor too cold.
The report of solid labor-market growth and tapered wage inflation calmed fears about stagflation, and gave the Federal Reserve leeway to slow the pace of rate hikes.
The data suggest that "if there is a recession, it's a moderate recession, which would be in the category of a softish landing," said Quincy Krosby, chief global strategist at brokerage LPL Financial.
Investment firm KKR plans to occupy a large swathe of the Manhattan office space being vacated by Facebook parent Meta Platforms.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-06-23 1729ET
