Dow jumps 400 points after weak jobs data sends yields tumbling: Live updates - CNBC
U.S. stocks rose on Friday after a weaker-than-expected jobs report increased speculation that the Federal Reserve will maintain current interest rates. Major indices like the Dow and Nasdaq saw gains as investors reacted to the labor market data.
Why it matters
Market reactions to employment data are critical indicators for economic policy and investor sentiment regarding the Federal Reserve's interest rate trajectory.
Stocks rose Friday following a surprisingly weak jobs report that raised hopes the Federal Reserve will hold rates steady in October.
The Dow Jones Industrial Average added 250 points, or 0.5%, to close at 51,176.46. The S&P 500 gained 0.7%, rising 56.27 to 7,722.72, while the Nasdaq Composite climbed 1.2%, adding 319.27 to 27,190.86, hitting an all-time high earlier in the day before pulling back as Treasury yields reversed course.
Despite Friday's rally, the Dow was down for the week by about 1.3%. The S&P was little changed, off 0.3%, while the Nasdaq was up 0.6% on the week, with Friday marking its third straight advance.
Treasury yields initially fell Friday following the September employment report, but later rebounded, pushing U.S. equities off their highs for the session.
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