Stocks edge higher, Treasury yields soar after jobs data

By STAN CHOE and ALEX VEIGA
AP Business Writers

NEW YORK (AP) — Stock indexes ended a bumpy day higher on Wall Street Friday while Treasury yields soared, after a healthy report on the U.S. job market strengthened expectations for coming interest rate hikes. The S&P 500 rose 0.3% after wavering between small gains and losses earlier. The index posted a tiny weekly gain, its third in a row. The two-year Treasury yield approached its highest level in more than three years after a report showed the labor market remained strong in February. It again topped the 10-year yield, an unusual event that’s historically been an ominous sign for the economy.