Stock market today: Amazon leads Wall Street higher

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Amazon led U.S. stock indexes higher, while a surprisingly weak jobs report marred by some unusual occurrences cemented bets on Wall Street for another cut to interest rates next week.

Amazon led U.S. stock indexes higher on Friday, while a surprisingly weak jobs report marred by some unusual occurrences cemented bets on Wall Street for another cut to interest rates next week. The S&P 500 rose 0.4% to recover some of its loss from the day before, which was its worst in eight weeks. The Dow Jones Industrial Average added 288 points, or 0.7%, while the Nasdaq composite gained 0.8%. Amazon climbed 6.

But the weaker-than-expected jobs report wiped out the slim chance traders had been seeing of the Fed holding rates steady, according to data from CME Group. The Fed kicked off its rate-cutting campaign in September with a larger-than-usual cut of half a percentage point, as it turns more attention to keeping the job market solid instead of focusing on just driving inflation lower.

 

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