U.S. stocks rally on ‘Goldilocks’ jobs report as Wall Street’s fear gauge slides

U.S. stocks have swung to an upbeat start in May, with Wall Street’s “fear gauge” easing to its lowest level since the end of March as investor anxieties tied to inflation appeared to subside.

All three major U.S. equities indexes finished sharply higher Friday — with the S&P 500 SPX and the technology-heavy Nasdaq Composite COMP logging back-to-back weekly gains, while the Dow Jones Industrial Average DJIA climbed a third straight week. The Dow saw its largest weekly rise since the stretch ending March 22, according to Dow…