The benchmark is now up about 20% on the year and trading at its highest level back to March 2022. The S&P 500 added 0.41% to settle at 4,604.37, while the Nasdaq Composite rose 0.45% to finish at 14,403.97. The economy added 199,000 jobs, slightly ahead of the 190,000 estimate from Dow Jones and well ahead of the 150,000 jobs added in October. The data first raised concerns that the economy was running too hot for inflation to cool enough for the Fed to start retreating from its high-rates policy. Average hourly earnings, seen as a leading indicator of inflation, rose about as expected in November as the economy added more jobs than the prior month.
