Posted 10/6/2023, 7:26:00 PM
Stocks Rebound After Jobs Report Shows Solid Gains But Slowing Wage Growth
- Wall Street swings higher after digesting strong but nuanced jobs report showing slower wage gains
- S&P 500 up 1.4% after initially dropping 0.9%; Dow up 397 points
- Shorter-term Treasury yields pull back after initial spike on jobs data
- Moderate wage gains could ease Fed pressure to keep hiking rates aggressively
- Next week brings start of earnings season with reports from Delta, JPMorgan, UnitedHealth