Nasdaq jumps 1.3% as US jobs ease Fed hike fears
Business
Wall Street had a strong Friday, with the Nasdaq jumping 1.3%, as disappointing US jobs numbers made investors hopeful that the Federal Reserve won't hike interest rates soon.
Only 29,000 new jobs were added in September and unemployment ticked up to 4.2%, signaling a softer job market than expected.
Fed hold odds climb to 86%
Falling Treasury yields and lower oil prices gave stocks an extra boost, especially for tech companies that react quickly to rate changes.
The odds of the Fed keeping rates steady in October shot up to 86%.
Still, despite Friday's rally, the Dow and S&P 500 were set for weekly losses, while the Nasdaq looked on track for a win.