Friday saw a surge in U.S. stocks following the release of the crucial jobs data, which exceeded experts’ expectations.
A 0.5% increase, or 227 points, was seen in the Dow Jones Industrial Average. The Nasdaq Composite gained over 1%, while the S&P 500 increased by 0.7%.
September’s increase in nonfarm payrolls was 254,000 jobs, significantly exceeding the 150,000 increase predicted by Dow Jones’ panel of economists. Despite predictions that it would remain stable at 4.2%, the jobless rate decreased slightly to 4.1%.
The gains on Friday represent a change in direction for markets, which had a rough start to October due to growing geopolitical concerns in the Middle East. Investor attention seems to return to the status of the US economy following the release of the jobs report.
Source (CNBC)
