Stock market today: Dow, S&P 500, Nasdaq futures rise ahead of key jobs report as oil steadies - Yahoo Finance
US stock markets rose after a jobs report showed significantly lower-than-expected hiring in September, leading investors to reduce bets on a Federal Reserve interest rate hike. Meanwhile, geopolitical tensions in the Middle East continue to influence global oil prices.
Why it matters
The cooling labor market data is a critical indicator for the Federal Reserve's monetary policy and broader economic stability.
US stocks surged as new payroll data for September showed that the US economy added far fewer jobs than Wall Street had expected. The Dow Jones Industrial Average (^DJI) rose 0.5%, the S&P 500 (^GSPC) gained 0.7%, and the tech-heavy Nasdaq Composite (^IXIC) surged 1.2% after touching an intraday record high during the session. The Nasdaq ended the week in green territory, while the Dow and S&P 500 posted weekly losses. Treasury yields initially fell following the jobs report, but then rose again. The 10-year Treasury (^TNX) moved to 5.28% while the 30-year yield (^TYX) hovered near 5.63%.The US added just 29,000 jobs in September, short of economists' expectations of 90,000. The unemployment rate ticked up to 4.2%, according to Labor Department data released Friday.
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