Photo : YONHAP News
Shares on Wall Street rallied on Friday in response to an improvement in U.S. jobs report.
The Dow Jones Industrial Average climbed zero-point-81 percent from the previous day to close at 42-thousand-352-point-75. The S&P 500 rose zero-point-nine percent to close at five-thousand-751-point-07. The tech-heavy NASDAQ added one-point-22 percent at 18-thousand-137-point-85.
According to data from the U.S. Department of Labor, the country added 254-thousand new jobs in September, marking the biggest rise in six months. Data for July and August were also revised upward by 55-thousand and 17-thousand, respectively, from the previous count.
The Wall Street Journal assessed that the retention of jobs, despite the high interest rate and slowing inflation, are expected to work in favor of the Federal Reserve.
The Chicago Mercantile Exchange(CME) Fedwatch, which tracks the probabilities of changes to the Fed rate, saw a zero-percent chance of a “big cut” of zero-point-five percent by the Fed in January.