Shares of industrial and transportation companies rose as traders bought into sectors that would benefit if a deep recession were averted.
Employers added 263,000 jobs in November, a stronger-than-anticipated showing, the Labor Department said Friday.
"The resiliency of the labor market allows the Fed to keep raising rates," said Quincy Krobsy, chief global strategist at brokerage LPL Financial. The Fed "still sees the possibility of a soft or we're back to a 'softish' landing."
Boeing executives and lobbyists are racing to persuade federal lawmakers to lift a Dec. 27 deadline set by Congress two years ago as part of a law aimed at making future airplanes safer.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-02-22 1708ET
