The September jobs report showed the economy added only 29,000 jobs, missing expectations of around 90,000, while the unemployment rate rose from 4.1% to 4.2%. Despite the weak jobs data, stocks soared as investors bet the Federal Reserve may not need to raise interest rates soon. Investors now see an 83% chance the Fed will keep rates unchanged this month. The soft job market suggests the central bank might not rush to hike rates, which is good for risk assets.
Related Articles
Don't miss out on breaking stories and in-depth articles.