Dow Jones rises 400 points amid bond and oil drops
American economic reports were published showing a slowdown in the labor market for September, with only 29,000 jobs added, which is below market expectations of 84,000 jobs. The unemployment rate rose to 4.2%. Following the release of the report, U.S. stocks rose significantly; the Dow Jones Industrial Average jumped by 400 points (+0.55%), and bond yields dropped noticeably, with the 10-year Treasury yield falling to 5.176%. This reflects investors’ preference to stay on the sidelines, with an 86% probability that the Federal Reserve will keep interest rates unchanged at the October meeting, based on data confirming continued economic growth slowdown and inflation decline.
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