Jobs Report Beats Expectations; Wall Street Rallies as Fed Rate Hikes Loom

The September jobs report blew away expectations, with the US economy adding 336,000 jobs vs forecasts of 170,000. This could give the Fed more evidence to keep raising rates to tame inflation.

Surging bond yields have renewed concerns over the rising costs of financing government debt. Interest payments on US debt are projected to exceed $1 trillion annually within 10 years.

Testimony from Sam Bankman-Fried's inner circle, like his co-founder Gary Wang, offers some of the most damaging evidence so far in his criminal trial.

Historically, strong market gains like today's tend to be followed by further upside. The Dow, Nasdaq, and S&P 500 are all up over 1% currently.

The food industry is considering how to adapt if new weight loss drugs lead to changes in consumer eating habits, like smaller portion sizes or reduced calorie intake.