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US STOCKS-Nasdaq climbs to record after softer jobs data cools rate-hike expectations

News Snapshot:

US stocks advanced on Friday, with the Nasdaq Composite climbing to an intraday record high, after weaker-than-expected jobs data further dampened expectations for a near-term rate hike from the Federal Reserve. The Labor Department said nonfarm payrolls increased by 29,000 jobs ?last month, with the count for the prior two months also revised sharply lower, and well below the 90,000 estimate of economists polled by Reuters.The weaker-than-anticipated data pulled down expectations for a rate hike of at least 25 basis points from the Fed at its meeting later this month to 23.8%, according to CME FedWatch, from 24.4% in the…

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