U.S. stocks surged Friday after a weaker-than-expected jobs report and falling oil prices led traders to sharply scale back bets on another Federal Reserve interest rate hike. The rally wasn’t enough to pull the Dow Jones Industrial Average and S&P 500 out of weekly losses, as another spike in global bond yields kept trading choppy.
The Dow fell 1.26 percent for the week, closing at 51,176 on Friday. The S&P 500 ended at 7,722, down 0.27 percent. The Nasdaq Composite gained 0.45 percent for the week, while the small-cap Russell 2000, among the stocks most sensitive to interest rates, slipped 0.16 percent.
The CBOE Volatility Index rose 2.96 percent for the week to 15.31, suggesting investors expect choppy markets ahead….