Wall Street Set to Rise and Yields Fall Following Weak US Jobs Report
Wall Street pointed higher and bond yields dropped after weaker-than-expected US employment data dampened expectations of an October interest rate hike.
Major Wall Street indexes pointed higher and government bond yields fell following the release of United States employment figures, news agency Reuters and German newspaper Handelsblatt reported. The weaker labor data dampened expectations of an interest rate hike in October, boosting investor sentiment.
According to the reports, the addition of just 29,000 jobs in September fell sharply short of economists' forecasts, which had anticipated an increase of 90,000 positions. The significant shortfall reinforced market expectations that a rate hike by the Federal Reserve is now off the table for its upcoming meeting.
Sources: Handelsblatt, Handelsblatt, Reuters
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