The Dow Jones rose nearly 300 points on Friday as stocks erased losses after the hottest jobs report: Live updates 

Stocks also rose more than expected on Friday following the release of  U.S. jobs growth data and a sharp rise in Treasury yields.

The Dow Jones Industrial Average rose 288.01 points or 0.87% and closed at 33,407.58. The S&P 500 index rose 1.18% to 4,308.50. The tech-heavy Nasdaq Composite rose 1.60%, closing at 13,431.34.

The U.S.The Labor Department reported that the economy added 336,000 jobs in September. According to a recent poll of economic experts conducted by the Financial Gazette, the consensus projected 170,000 job openings. In fact, the increase in wages for the previous month fell short of initial forecasts.

shares rallied dramatically on Friday after initially falling following a better-than-expected jobs report. At the session’s low, the Dow fell by as much as 272 points; at the peak of the rise it was up more than 400 points. The Nasdaq and S&P 500 fell 0.9% to intraday lows.

traders were unsure about the reason for the intraday reversal. Some pointed out that the lower number of jobs in the employment report may have caused investors to reconsider their earlier pessimistic stance. Others saw returns fall from intraday highs. Part of the rally could simply be due to an oversold market, which was extremely oversold at one point in the week, with the S&P 500 down more than 8% from its peak earlier in the year. Following the release of the report, yields initially rose, with the price of 10-year Treasury bonds hitting a 16-year high. The key interest rate then fell from these levels but was still around 6 basis points and 4.78%.

“We see a slight improvement in profitability from around level 4.8th %. Megan Horneman, who holds the position of Chief Investment Officer at Verdence Capital Advisors, remarked, ‘I believe this is providing support to the stock market as it undergoes a minor retracement. In the past few weeks, there has been a notable trend of market fragility and pronounced overselling.

“There is probably enough good news about wage growth and the unemployment rate to keep the Fed from raising interest rates again. Dante DeAntonio, an economist with Moody’s Analytics, noted that although market sentiment regarding FOMC decisions shifted slightly after today’s report, there persists a robust consensus that November will likely see no adjustments to interest rates.

Technology stocks led the S&P 500 sector’s rise on Friday, gaining 1.94%. Palo Alto’s monolithic power systems, microdevices, and advanced networks grew more than 4%.

Ford gained 0.84% ​​and GM gained 1%.95%. The action came after the United Auto Workers union said there would be no new strikes this week due to progress in negotiations with automakers.

The S&P 500 index closed the week up 0.48%, ending a four-week losing streak. Positive week for the Nasdaq, which rose to first place 60%. Meanwhile, the Dow Jones closed the week down 0.30%.

Technology stocks led the S&P 500 sector’s rise on Friday, gaining 1.94%. Palo Alto’s monolithic power systems, microdevices, and advanced networks grew more than 4%.

Ford gained 0.84% ​​and GM gained 1%.95%. The action came after the United Auto Workers union said there would be no new strikes this week due to progress in negotiations with automakers.

The S&P 500 index closed the week up 0.48%, ending a four-week losing streak. Positive week for the Nasdaq, which rose to first place 60%. Meanwhile, the Dow Jones closed the week down 0.30%.

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