WNYT NewsChannel 13 on Nostr: Stock market today: Dow rallies to a record after a blockbuster jobs report ...
Stock market today: Dow rallies to a record after a blockbuster jobs report
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U.S. stocks rallied on October 4, 2024, after a strong jobs report showed employers added 254,000 jobs in September, surpassing forecasts and accelerating from August's 159,000. The Dow Jones Industrial Average rose 341 points (0.8%) to a record 42,352.75, while the S&P 500 climbed 0.9% and the Nasdaq composite increased 1.2%. Key sectors benefiting included banks and cruise-ship operators, with Norwegian Cruise Line up 4.9% and JPMorgan Chase up 3.5%. The report alleviated concerns about the job market's stability amid high interest rates, with traders now expecting no significant cuts to interest rates at the next Federal Reserve meeting. Treasury yields rose sharply, with the two-year yield increasing to 3.93%. The report also coincided with the return of 45,000 dockworkers after a strike suspension, easing inflation concerns. Crude oil prices rose modestly, with Brent crude at $78.05 per barrel. Global markets reacted positively, with European indexes rising and Hong Kong's Hang Seng jumping 2.8%.
#StockMarket #JobsReport #DowJones #Economy #FederalReserve #TreasuryYields #CrudeOil #GlobalMarkets #Employment #InterestRates
https://wnyt.com/us-news/stock-market-today-dow-rallies-to-a-record-after-a-blockbuster-jobs-report/
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U.S. stocks rallied on October 4, 2024, after a strong jobs report showed employers added 254,000 jobs in September, surpassing forecasts and accelerating from August's 159,000. The Dow Jones Industrial Average rose 341 points (0.8%) to a record 42,352.75, while the S&P 500 climbed 0.9% and the Nasdaq composite increased 1.2%. Key sectors benefiting included banks and cruise-ship operators, with Norwegian Cruise Line up 4.9% and JPMorgan Chase up 3.5%. The report alleviated concerns about the job market's stability amid high interest rates, with traders now expecting no significant cuts to interest rates at the next Federal Reserve meeting. Treasury yields rose sharply, with the two-year yield increasing to 3.93%. The report also coincided with the return of 45,000 dockworkers after a strike suspension, easing inflation concerns. Crude oil prices rose modestly, with Brent crude at $78.05 per barrel. Global markets reacted positively, with European indexes rising and Hong Kong's Hang Seng jumping 2.8%.
#StockMarket #JobsReport #DowJones #Economy #FederalReserve #TreasuryYields #CrudeOil #GlobalMarkets #Employment #InterestRates
https://wnyt.com/us-news/stock-market-today-dow-rallies-to-a-record-after-a-blockbuster-jobs-report/