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S&P 500, Nasdaq hit all-time highs as job growth slows
The S&P 500 and Nasdaq both hit all-time highs this Friday after new job numbers for August came in way below expectations.
Investors are now betting the Federal Reserve might cut interest rates this month to help boost the economy.
The S&P 500 opened at 6,530.06 (up 0.4%), the Nasdaq jumped to 21,860.44 (up 0.7%), and even the Dow climbed to 45,710.49.
Why is the Fed likely to cut interest rates
August saw just a 22,000 increase in new jobs—far less than predicted—and unemployment ticked up to 4.3%.
Economists say stricter trade rules and immigration policies from Trump's time are making it harder for businesses to hire and plan ahead, which has disrupted the labor market.