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Wall Street benchmarks set new highs as labor data eases rate concerns
US stocks closed at record highs after modest job growth reduced rate worries, lifting investor confidence across technology and consumer sectors.
US equity markets ended January 9 at record levels, supported by softer than expected labor market data that reinforced expectations of gradual policy easing. The Dow Jones Industrial Average rose about 0.5 %, while the S&P 500 and Nasdaq Composite gained roughly 0.6 % and 0.8 % respectively. Investors interpreted slower job additions as a sign of cooling inflation pressures.