After the crucial jobs data beat forecasts, the Dow Jones Industrial Average saw minimal movement on Friday, wiping off an earlier surge.
At session highs, the blue-chip Dow gained over 300 points, but it only added 19 points. After briefly trading more than 1% higher, the Nasdaq Composite increased by 0.5%. By 0.2%, the S&P 500 increased.
Stocks first surged after statistics revealed that nonfarm payrolls increased by 254,000 jobs in September, much exceeding the 150,000 increase predicted by Dow Jones’ panel of economists. Contrary to estimates, the jobless rate decreased slightly to 4.1%.
Source (CNBC)
