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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