S&P closes in on record, boosted by banks and jobs data

The U.S. Labor Department said 227,000 jobs were created in the public and private sectors in January, far higher than the 175,000 economists had expected, as construction firms and retailers ramped up hiring. "Continued strong job creation is tempered by the renewed sluggishness in wage growth, raising questions once again about the extent to which the functioning of the labor market has evolved," said Mohamed El-Erian, chief economic adviser at Allianz in Newport Beach, California. The S&P