Locator: 45936JOBS.
More from the top economic story posted yesterday by The WSJ:
"Goldilocks Job Report"
Their Words, Note Mine
Later, 10:12 p.m. PT: link here.
From the linked article:
The S&P 500 rallied Friday, capping its best weekly performance since November 2022, after the latest monthly jobs report suggested the Federal Reserve’s interest-rate raising campaign is working.
The broad index gained 0.9%, bringing its gains for the week to 5.9%.
The index is up 14% this year.
The Dow Jones Industrial Average added about 200 points, or 0.7%, on Friday, while the Nasdaq Composite rose 1.4%. Those indexes also recorded their biggest weekly percentage gains of the year.
New economic data and the Fed’s latest policy decision gave investors hope that the economy is pulling back enough for inflation to abate without falling into a recession—and that interest rates could be near their peak.
The October jobs report showed hiring slowed last month. Employers added 150,000 jobs in October, the Labor Department reported Friday, half the prior month’s gain and below economists’ expectations.
The unemployment rate rose to 3.9% and wage growth eased.
“The jobs report was a Goldilocks report,” said Anthony Saglimbene, chief market strategist at Ameriprise Financial. “We may be getting a soft landing.”
All but one of 11 sectors in the S&P 500 rose Friday. The energy sector slipped 1% as Brent crude dropped 2.3% to $84.89 a barrel.
All but one of 11 sectors in the S&P 500 rose Friday. The energy sector slipped 1% as Brent crude dropped 2.3% to $84.89 a barrel.
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