Stocks Rally as Weaker Jobs Growth Signals Fed Pause
-
Stocks jumped as investors weighed cooling jobs growth that could reinforce Fed pausing rate hikes. Dow gained 0.5%; S&P 500 added 0.6%; Nasdaq rose 0.6%.
-
October jobs growth slowed to 150,000 from 180,000 expected. Unemployment ticked up to 3.9%. Signs of slowing economy support Fed pausing hikes.
-
Tech stocks recouped losses after Apple's disappointing results and outlook. Investors weigh what slower iPhone sales mean for consumer resilience.
-
Before the bell, stock futures spiked on surprise cooling in October jobs growth. Dow futures popped 0.5%; S&P 500 futures rose 0.52%.
-
October jobs report shows slowdown with 150,000 added, down from 334,000 in September. Unemployment ticked up to 3.9% from 3.8%.