Slower job growth reduces rate hike concerns
A quarterly report shows a slowdown in the U.S. labor market, with the economy adding only 29,000 jobs in September and the unemployment rate rising to 4.2%, alongside a 3% annual decline in wage growth. This slowdown led to a rise in U.S. stock indices, with the S&P 500 increasing by 0.8%, the Dow Jones by 0.5%, and the Nasdaq by 1.2%, despite weekly losses in some indicators. Additionally, the yields on 10- and 30-year Treasury bonds jumped to their highest levels in over twenty years amid inflation fears. Experts warn that an inflationary recession could still occur despite decreasing expectations for interest rate hikes.
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