March 9, 2018
Payrolls surged and wage pressures eased, making the best of two worlds the apparent theme of the February employment report. Inflation-free growth pushes immediate questions of Federal Reserve tightening to the background and made way for a substantial rally in the stock market where the Dow rose 1.8 percent to 25,335. But it is anyone's guess how long employment can rise in a labor market that long ago met the definition of full employment.
On the week the Dow rose 3.3 percent. Treasuries and the dollar were much more steady, ending at 2.90 percent for the 10-year yield and at 90.13 for the dollar index and both little changed. Oil rose 1.0 percent to $62.06 on the week with gold up fractionally to $1,323.