Weak Jobs Report Lifts Stocks as Treasury Yields Retreat
Unemployment rose to 4.2%, while the report increased expectations that the Federal Reserve would hold rates steady this month.
U.S. stocks rose in early Friday trading after September’s jobs report came in below expectations. Unemployment edged up to 4.2%, and the report lifted expectations that the Federal Reserve will leave rates unchanged at its policy meeting this month.
The 10-year Treasury yield eased to 5.18%, after reaching a peak not seen since 2002 in the previous session. The yield is a benchmark for mortgages and other loans.
Technology shares also advanced. Nvidia, described in the report as a major AI chipmaker, was nearing a record high in the early market snapshot. As of 14:47 UTC Friday, its shares traded at $236.86, up 2.6% from the previous close.
Bitcoin rose more than 2% to above $86,000 in the early snapshot, while ether also jumped. At 14:43 UTC, Bitcoin traded at $85,991, up 2.32% over 24 hours.
Nike, Seagate and Western Digital were also among the stocks Yahoo Finance readers were viewing that morning. The report did not give further details on their moves.
This article was produced with the help of AI technology.
Source: Yahoo Finance
