U.S. September employment report weakens, U.S. stocks rise, Dow Jones rises 0.49%
Quick Look
- The number of U.S. non-agricultural employment increased by only 29,000 in September, and the unemployment rate rose to 4.2%, lower than market expectations.
- This increased investors' expectations that the Federal Reserve will keep interest rates unchanged in October, driving U.S. stocks to rise.
- The Dow Jones Industrial Index rose 250 points or 0.49%, the S&P 500 Index rose 0.73%, the Nasdaq Index rose 1.19%, the Philadelphia Semiconductor Index rose 2.4%, and the TSMC ADR rose 2.96%.
AI-generated summary
Why It Matters
The market originally expected that the United States would create 84,000 new jobs in September and the unemployment rate would remain at 4.1%. However, the actual number of new jobs was only 29,000 and the unemployment rate would rise to 4.2%.
U.S. stocks rose on Friday. (Reuters)
[Instant News/Comprehensive Report] The U.S. September employment report unexpectedly weakened. The report also increased investors' expectations that the Federal Reserve (Fed) will keep interest rates unchanged in October, boosting the stock market. The Dow Jones Industrial Average rose 250 points, 0.49%, and the standard The S&P 500 Index rose 0.73%, the Nasdaq Index rose 1.19%, hitting a record high during the session, the Philadelphia Semiconductor Index rose 2.4%, and TSMC ADR rose 13.58 US dollars, 2.96%, to close at 472.78 US dollars.
According to comprehensive foreign media reports, the U.S. non-agricultural employment report in September showed that the United States added 29,000 new jobs and the unemployment rate rose to 4.2%. The market consensus estimates that 84,000 new jobs will be created and the unemployment rate will remain unchanged at 4.1%. U.S. Treasury yields fell after the report was released, but later rebounded, while U.S. stocks fell from the day's highs.
Please read on...
There is news that under pressure from the Trump administration, European countries are considering releasing strategic fuel reserves. As a result, oil prices have fallen, which has also supported the stock market.
Technology stocks led the gains on Friday, with Huida's stock price rising 1.34%, AMD's stock price rising nearly 2.95%, Apple's rising 1.02%, and Microsoft's rising 0.92%.
The Dow Jones Industrial Average rose 250.40 points, or 0.49%, to 51,176.96 points.
The Nasdaq index rose 319.27 points, or 1.19%, to 27190.86 points.
The S&P 500 index rose 56.27 points, or 0.73%, to 7722.72 points.
The Philadelphia Semiconductor Index rose 307.68 points, or 2.40%, to 13136.68 points.
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What to Watch
AI outlook — possibilities, not facts
Fed to keep interest rates unchanged in October
Likely · Within weeks
Open Questions
- Does this employment data represent a real weakening of the labor market?
- Will the Federal Reserve keep interest rates unchanged at its October meeting?
