Stocks stage turnaround after investors find silver lining in jobs report

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The 10-year Treasury yield came off its fresh 16-year high hit after the data.

Data showed US employment increased by the most in eight months in September as hiring rose broadly, pointing to persistent labor market strength, though wage growth is slowing.

Traders put the chance of interest rates remaining unchanged in November and December at around 73% and 58%, respectively, according to CME’s FedWatch tool.

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