• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Stocks jump, dollar and yields drop after US jobs market softens
Business

Stocks jump, dollar and yields drop after US jobs market softens

November 3, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

[1/2]Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing Rights

  • US stocks end sharply higher
  • US job growth slower than expected in October
  • Oil prices end lower

NEW YORK, Nov 3 (Reuters) – Global stock indexes rose sharply, the U.S. dollar dropped to a six-week low and benchmark 10-year U.S. Treasury yields fell to five-week lows on Friday after data showed U.S. job growth slowed more than expected in October.

The job growth slowdown underscored views that the Federal Reserve may be done hiking interest rates.

Also, U.S. two-year yields were the lowest since early September after the data, which showed U.S. job growth slowed in part as strikes by the United Auto Workers union against Detroit’s “Big Three” carmakers depressed manufacturing payrolls.

The data also showed the increase in annual wages was the smallest in nearly 2-1/2 years, pointing to an easing in labor market conditions.

“The good news here is that the slowdown will likely keep the Fed on the sidelines going forward,” said Brad McMillan, chief investment officer for Commonwealth Financial Network in Waltham, Massachusetts.

“One of their key concerns has been an overheated economy, especially after last quarter’s GDP growth, and this suggests that problem is going away.”

Wednesday’s U.S. central bank decision to leave rates unchanged and comments by Fed Chair Jerome Powell indicated to some investors that the Fed may be done raising rates. The Bank of England on Thursday also left rates unchanged.

See also  Insiders Pour $1 Million Each Into These 2 ‘Strong Buy’ Stocks⁠ — Here’s Why Wall Street Thinks They Could Double (or More)

Central bank officials however stressed that more may need to be done to tackle inflation.

Traders are now pricing in only a 5% chance of a Fed rate hike in December, down from 20% on Thursday, while the odds of a January increase have slipped to 11% from 28%, according to the CME Group’s FedWatch Tool.

Benchmark 10-year yields fell as low as 4.484%, the lowest since Sept. 26. Two-year note yields reached 4.807%, the lowest since Sept. 1.

A decision on Wednesday by the U.S. Treasury to issue less long-term debt than expected also fuelled the rally in bonds, as did data on Thursday suggesting the U.S. economy might finally be cooling.

The Dow Jones Industrial Average (.DJI) rose 222.24 points, or 0.66%, to 34,061.32, the S&P 500 (.SPX) gained 40.56 points, or 0.94%, to 4,358.34 and the Nasdaq Composite (.IXIC) added 184.09 points, or 1.38%, to 13,478.28.

Bucking the trend of the broader market, Apple (AAPL.O) shares fell 0.5%, a day after the company reported quarterly results and warned of a dull holiday quarter.

The three major U.S. stock indexes also posted gains for the week, with the S&P 500 registering its biggest weekly percentage jump since November 2022.

The pan-European STOXX 600 index (.STOXX) rose 0.17% and MSCI’s gauge of stocks across the globe (.MIWD00000PUS) gained 1.18%. The MSCI index was up 5.3% for the week, also the biggest weekly percentage increase since November 2022.

The U.S. dollar index dropped to a six-week low after the jobs data. In afternoon trading, the dollar index fell 1.111%, with the euro up 1.07% to $1.0734.

See also  High Rent Prices Are Crushing Americans — And They Could Be Here To Stay, Experts Say

The Japanese yen strengthened 0.72% versus the greenback at 149.31 per dollar, while sterling was last trading at $1.2379, up 1.46% on the day.

In commodities, oil prices ended more than 2% lower, with the geopolitical risk premium waning.

Brent crude futures settled at $84.89 a barrel, while U.S. crude futures settled at $80.51.

Spot gold added 0.4% to $1,994.31 an ounce.

Reporting by Caroline Valetkevitch in New York; additional reporting by Harry Robertson in London and Chibuike Oguh in New York; editing by Jacqueline Wong, Miral Fahmy, Alison Williams, Mark Heinrich, Rod Nickel and Diane Craft

: .

Acquire Licensing Rights, opens new tab
Dollar drop Jobs jump market softens Stocks yields
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Aaron Rodgers Celebrates Novak Djokovic Outlasting COVID Vaccine Mandates to Play in U.S. Open

September 5, 2023

Can Wheat Save North Korea From a Food Crisis?

April 12, 2023

Fed rate hikes may be done as labor market cools further

November 3, 2023

Malaysia Flags Ban on Export of Rare Earth Minerals

September 12, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

US stocks close higher as Treasury yields fall after weak jobs data

November 4, 2023

Canadian union Unifor sets Oct 9 deadline for GM negotiations

September 29, 2023

Tesla Recalls 1.6 Million Electric Vehicles Sold in China over Autopilot Crashes

January 7, 2024
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.