U.S. stocks end sharply lower after strong jobs report keeps Fed on hiking path, but post gain for week

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

U.S. stocks finished the week in the red after a still-strong September jobs report Friday suggested the central bank would not alter the course of monetary policy soon. The DJIA fell 630 points, or 2.1%, to finish at 29,297.

U.S. stocks finished the week in the red after a still-strong September jobs report Friday suggested the central bank would not alter the course of monetary policy soon. The Dow Jones Industrial Average DJIA, -2.11% fell 630 points, or 2.1%, to finish at 29,297. The S&P 500 SPX, -2.80% lost 2.8%, while the Nasdaq Composite COMP, -3.80% slid 3.8%. Friday's employment report showed the U.S.

economy added 263,000 new jobs in September, slightly lower than Dow Jones' forecast of 275,000 jobs, and well below the 315,000 new positions added in August. The unemployment rate, meanwhile, declined to 3.5% from an August reading of 3.7%. Despite the selloff, the S&P booked a 1.5% weekly gain after back-to-back rallies earlier in the week, while the Dow gained 2% and the Nasdaq was up 0.7%, according to Dow Jones Market Data.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Is it time to allow Fed members to trade again?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5 Things to Know Before the Stock Market Opens FridayHere are the most important news items that investors need to start their trading day.
Source: nbcchicago - 🏆 545. / 51 Read more »