US stocks advanced, with the S&P 500 closing at a fresh record high after weaker-than-expected labour-market data reduced expectations for further Federal Reserve tightening.
Lower Fed hike probabilities pushed Treasury yields and the US Dollar lower, while improving sentiment toward equities as investors priced in a less restrictive interest-rate outlook.
WHY: Softer employment conditions reduce pressure on the Fed to tighten further, supporting equity valuations while weighing on Treasury yields and the Dollar.
DESK: Equities-positive, USD-negative, yields-negative, Gold-positive