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NewsBreak: Jobs Report Pushes Stocks to Biggest Gains in a Month

Published 10/04/2019, 02:56 PM
Updated 10/04/2019, 03:03 PM
© Reuters.
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Investing.com - Stocks were rallying strongly Friday afternoon, with their best one-day gains in a month, after a positive jobs report that allayed fears of recession and showed few signs of inflation.

  • The S&P 500 was up 1.12%. The Dow Jones industrials were up 1.1%. The Nasdaq Composite gained nearly 1.2%, with the Nasdaq 100 index, dominated by big tech stocks, up nearly 1.4%. Apple (NASDAQ:AAPL), up 2.8%, and Microsoft (NASDAQ:MSFT), ahead by 1.2%, contributed a third of the Nasdaq 100's 100-point gain.

  • The jobs report showed payrolls growing by 136,000 in September. But estimates for August and July were revised higher and the jobless rate hit a 50-year low.

  • Since its Thursday bottom, the Dow has climbed more than 750 points. The major indexes are still off about 1% on the week.

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