It may take more than a much-weaker-than-expected April jobs report to kill the stock market rally, though the popular reflation trade is seeing a modest setback.
The U.S. created just 266,000 new jobs in April even as the economy gained strength, suggesting companies might be struggling to fill open jobs even with millions of people still unemployed. The jobless rate rose to 6.1% from 6%.
Treasury Secretary Janet Yellen announced her intention to appoint Federal Reserve bank regulator, Michael Hsu, as acting comptroller of the currency Friday morning.
Minneapolis Fed President Neel Kashkari said Friday the surprisingly weak April job report was an example of how far the economy is from full employment.