Wall Street reacts to a Goldilocks jobs report

The U.S. economy added 223,000 jobs in December, more than economists expected, while the unemployment rate fell to 3.5%.

Job growth has slowed in recent months against a backdrop of higher interest rates, but the labor market remains tight despite the Federal Reserve’s efforts to cool demand for workers that has placed upward pressure on wages and driven up inflation.

December’s report showed wage growth cooled slightly, a sign investors perceived may ease the pressure off of Fed officials to…

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