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Wall Street climbs on bull market's birthday as inflation fears ebb

Reuters  |  NEW YORK 

By Sinead CarewNEW YORK (Reuters) - To celebrate the bull market's ninth birthday on Friday, the three major U.S. stock indexes climbed almost 2 percent and the Nasdaq closed at a record high, as February's jobs report assuaged fears of inflation and aggressive interest rate hikes.A month ago, the market had been spooked by wage growth that fueled inflation fears, leading to a spike in volatility and a stock market correction. That sentiment has reversed over recent weeks with the market gradually nudging higher. The bull market, which began on March 9, 2009, is the second longest on record, ...

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First Published: Sat, March 10 2018. 03:06 IST
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