NEW YORK (AP) — Stocks closed higher on Wall Street after another day of uncertain trading as markets weighed the latest reading on the jobs market and what it means for interest rates and the odds of a recession.

The S&P 500 rose 1.4% Friday after giving up a bigger gain earlier in the day. The swings followed a government report showing the unemployment rate ticked higher in October.

That could take some pressure off the nation's high inflation, if not as quickly as the Federal Reserve hoped.

Stocks in Asia rallied on continued speculation that China may relax its strict anti-COVID measures. Treasury yields eased.