It’s going to take more than a global bond rout to derail the bull market in equities.

Stocks jumped on Friday after a report showed hiring bounced back in April, erasing losses from two days earlier and sending the Standard & Poor’s 500 Index to a weekly gain of 0.4 percent. Shares overcame the biggest single-day decline in six weeks on Tuesday and losses in fixed-income markets that totaled $500 billion.

The S&P 500 finished two points shy of an all-time high. It ended the week with the biggest surge since March after payrolls data signaled economic growth is accelerating, though not enough to warrant higher interest rates in June. Concern the Fed would raise borrowing costs, along with forecasts for a slump in corporate profit, have whipsawed the index between gains and losses over the past five weeks.

“Stocks have been surprisingly resilient,” Kate Warne, an investment strategist at Edward Jones & Co. in St. Louis, said by phone. “Some of the things that have held the market down are proving to be temporary things. Investors were reassured the weakness we saw in March was unusual or an aberration.”

David Fuller's view

We do not have to worry too much while these indices remain steady and above their 200-day (40-week) MAs – SPX, DJIA, CCMP.

For a lengthy discussion of the US and other stock markets, listen to Friday’s Big Picture, Long-term Audio.