Stocks Rise on Weaker Jobs Report, Pause Expected for Fed Rate Hikes
-
Stocks rose as October jobs growth of 150,000 fell below expectations, suggesting the Fed may pause rate hikes. The Dow jumped 250 points and the S&P 500 gained 1%.
-
Apple shares fell 2% as earnings beat estimates but the company forecast slowing iPad and wearables sales growth.
-
Strikes in the auto and entertainment industries registered hits of more than 75,000 jobs lost this year. GM and Ford strikes may soon end with new deals.
-
Block, DraftKings and Expedia shares jumped on earnings beats. Carvana stock rose on a surprise profit.
-
Before the bell, stock futures spiked as slower October jobs growth suggested the Fed will pause tightening. The unemployment rate ticked up to 3.9%.