The Labor Department reported the U.S. added just 29,000 jobs in September, well short of expectations. U.S. stocks ended the week on an upswing after slowing jobs growth tempered expectations that the Federal Reserve will hike rates again later this month. The S&P 500 rose 56.27 points, or 0.73%, to 7722.72. The Dow Jones Industrial Average climbed 250.40 points, or 0.49%, to 51176.96.
The Nasdaq gained 319.27 points, or 1.19%, to 27190.86, near a record high. The weaker-than-expected result gives the Fed cover to hold the federal funds rate steady at its upcoming meeting.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing