Stocks close mostly lower Friday after strong jobs data offers good, bad news for investors

Stocks swung lower Friday following a blockbuster report on hiring in July which offered both good and bad news for Wall Street.

The S&P 500 was 0.2% lower after recovering from an earlier loss of 1.1%. U.S. employers added hundreds of thousands more jobs than expected last month, suggesting the economy may not be in a recession, as feared. But the better-than-expected hiring data also undercuts investor hopes that high inflation may be close to peaking, meaning the Federal Reserve…

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