Wall Street rises as weak US jobs data lifts rate-cut hopes
In short
Wall Street climbed on Friday after a weak US jobs report. The Dow rose 194 points, or 0.6%, the S&P 500 gained 0.7%, and the Nasdaq Composite added 1.3%.
Investors liked the chance that the Federal Reserve may keep rates steady in October. The report does not give the full jobs numbers, so the size of the slowdown is still unclear.
What the reporting says
Wall Street rose on Friday after a weak US jobs report pushed yields down from recent highs and raised hopes that the Federal Reserve will hold rates steady in October. The Dow Jones Industrial Average gained 194 points, or 0.6%, the S&P 500 added 0.7%, and the Nasdaq Composite climbed 1.3%. The report does not say which jobs figures were weak or how long the move may last.
Why it matters
US stocks rose Friday after a weak jobs report pulled yields down and increased expectations that the Federal Reserve may keep rates unchanged in October. The Dow, S&P 500 and Nasdaq all advanced, with the Nasdaq leading gains. The available reporting does not specify the jobs figures themselves, so the exact labor-market weakness remains unclear.