It’s a day of broad-based rallies on Wall Street, with both stocks and commodities showcasing robust performances in the wake of a hotter-than-expected labor market report, seemingly unfazed by growing fears over delays in the Federal Reserve’s rate cut plans. In March, the U.S. economy added 303,000 new employees, the highest level since May 2023, and well above the expected 200,000, the Bureau of Labor Statistics reported Friday. Yet, annual wage growth eased as expected, partially alleviating inflationary fears. Traders have adjusted their expectations for a Federal Reserve rate cut in June downwards, with money market pricing currently suggesting nearly a 50-50 probability between a rate cut and maintaining rates steady, according to the CME Group Fed Watch. The S&P 500 soared 1.3%, rebounding after Thursday’s 1.2% decline. The tech-heavy Nasdaq 100 rallied 1.7%, after losing 1.6% a day earlier, and ...