A bright spot was the jobless rate, which held steady at 3.6%, a half-century low. The employment figures add to other data depicting an economy that is still growing, but is losing momentum after the first quarter of 2019 and last year. Stocks and bonds rose as the report bolstered investors’ expectations the U.S. Federal Reserve will lower interest rates to support the economy. Fed officials signaled this week they are paying close attention to the risks of a sharper-than-expected economic slowdown. A spate of weak recent data, including the jobs report, makes an interest-rate cut possible this summer—if not at their meeting on June 18-19, then possibly later. After Friday’s report, the probability of a rate cut in June implied by futures markets rose to around 35%, from 20% on Thursday, according to CME Group. This means investors see a move as more likely, but it isn’t seen […]