Weak October Jobs Report Boosts Bets on End to Fed Rate Hikes; Apple Sales Outlook Dims
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U.S. job growth weaker than expected in October, boosting bets that the Fed is done with rate hikes.
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Nonfarm payrolls rose 150,000 in October vs expectations of 180,000. Unemployment edged up to 3.9%.
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Apple shares fell after sales forecast for current quarter fell short of expectations.
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Most major S&P 500 sectors traded higher, led by real estate, up 2.7%.
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CBOE volatility index touched a 6-week low as stocks rallied on hopes of less aggressive Fed policy.