English
Back
Download
Log in to access Online Inquiry
Back to the Top

Wall St rallies to close out soft week after jobs report

U.S. stocks closed higher on Friday in volatile trade to snap a four-session losing streak as investors wrestled with a mixed jobs report and comments from Federal Reserve officials on the pace of interest rate hikes.
The S&P 500 and the Nasdaq each rose as much as 2% in the early stages of trading while the Dow Jones Industrial Average climbed as much as 1.9% on the heels of the closely watched labor market report, before paring gains and briefly falling into negative territory. The report showed an uptick in the unemployment rate in October, indicating some signs of slack may finally be starting to emerge in the job market and give the Fed room to downsize its rate hikes beginning in December.
But the data also showed average hourly earnings rose slightly more than expected, as did job growth, pointing to a labor market that largely remains on firm footing.
- Data shows strong jobs growth, uptick in jobless rate
- $Starbucks (SBUX.US)$ , $DoorDash (DASH.US)$ jump on upbeat results
- U.S-listed China firms rise on reopening hopes
- $Dow Jones Industrial Average (.DJI.US)$ up 1.26%, $S&P 500 Index (.SPX.US)$ up 1.36%, $Nasdaq Composite Index (.IXIC.US)$ up 1.28%
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
6
+0
Translate
Report
100K Views
Comment
Sign in to post a comment
    True and timely
    2091
    Followers
    40
    Following
    5562
    Visitors
    Follow
    Reassessing Chinese Assets
    Following the introduction of China's groundbreaking DeepSeek technology, Wall Street giants have revised their investment outlooks for the Chinese market.