NEW YORK — Amazon and Intel are helping to pull U.S. stock indexes higher, while yields skid in the bond market following a surprisingly weak jobs report that was marred by hurricanes and other unusual occurrences. The S&P 500 was 0.6% higher early Friday and recovering some of its worst loss in eight weeks from the day before. The Dow Jones Industrial Average was up 276 points, while the Nasdaq composite was 0.7% higher.
Last month’s hiring gain was down significantly from the 223,000 jobs added in September. Economists estimated that Hurricanes Helene and Milton, combined with strikes at Boeing and elsewhere, had the effect of pushing down net job growth by tens of thousands of jobs last month. The unemployment rate remained at 4.1%.
Apple slid 1.7% in extended trading despite beating Wall Street's sales and profit expectations. Investors were apparently disappointed by the company's forecast that implied its revenue for the October-December quarter — which covers the holiday shopping season — might not grow as robustly as analysts envisioned.
Japan’s benchmark Nikkei 225 sank 2.6% to 38,053.67. On Thursday, the Bank of Japan announced it would keep its benchmark rate unchanged at 0.25%, which was in line with market expectations. The Japanese yen traded lower Friday. The dollar rose to 152.78 Japanese yen from 152.00 yen.
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