Wall Street capped a choppy week of trading Friday with broad gains, which helped push the S&P 500 and Dow Jones Industrial Average to new highs.
The solid jobs report and expectations for a recovery in the labor market could nudge investors back toward companies that are poised to benefit from people going out and spending more, including airlines, retailers, restaurants and other firms providing in-person services, Samana said.
A rise in interest rates could undercut those stocks, or at least add a head wind that has been largely absent for more than a year. A slowdown in bond purchases by the Fed would be the first step toward raising short-term interest rates off their record low near zero.
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