S&P 500 posts 1.46% gain in its 5 week rally

S&P 500 posts 1.46% gain in its 5 week rally

US stocks extended the rally for best start to a year for the Standard & Poor’s 500 Index since Y 1987, after a report showed that employment growth topped estimates, and the jobless rate unexpectedly fell to 8.3%.

The S&P 500 added 1.4% to 1,344.66 at 4 p.m. New York time, according to preliminary closing data. The Key index has rallied for 5 weeks running, the longest streak in a year.

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VIX falls to 7 month Low

VIX falls to 7 month Low

Strong, steady gains Friday have driven the Volatility Index by about 5% to 17, or its lowest level in 7 months.

Reflecting the market’s increased appetite for risk, US Treasuries continue to descend deeper into negative territory. That has lifted the yield on the benchmark 10-yr Note up to 1.95%.

The USD, which is widely regarded as a safe haven, has found support at the flat line after giving up its early gains.

Gold had been flat early this morning, but …