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Stocks Score Weekly Gain as Jobs Fuel Rate Bets: Markets Wrap

The jobs report reaffirmed the strength of the economy, fueling the Fed to stay aggressive to combat inflation. The moderation in the number of jobs, however, was seen as a positive sign as the central bank seeks to engineer a soft landing. A handful of Fed officials, including two of its most hawkish policy makers, said this week that they supported raising interest rates by 75 basis points for a second month in a row. Recent data also signaled to investors that worries about a recession were overblown, a claim echoed by Fed officials this week.

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