About an hour ago
NEW YORK — U.S. stocks are ticking higher and heading back toward record highs on Friday, despite discouraging data detailing how much damage the deepening pandemic is doing to the job market.
The much weaker-than-expected jobs report may perversely have been bad enough to help kick Congress out of its paralysis and deliver more support for the economy. Hopes also remain deeply rooted on Wall Street that one or more coronavirus vaccines are coming to rescue the global economy next year.
The S&P 500 was 0.5% higher in morning trading, putting it on pace to erase its slight loss from the day before and return to a record. The Dow Jones Industrial Average was up 140 points, or 0.5%, at 30,100, as of 10:24 a.m. Eastern time, and the Nasdaq composite was 0.3% higher.
The initial reaction in…