Dow Surges 250 Points as Jobs Report Eases Rate-Hike Bets

The Dow Jones Industrial Average closed at 51,176.96 on October 2, up 250.40 points from the previous day, marking a second straight session of gains.

The US Labor Department's September employment data showed nonfarm payrolls below market expectations, prompting investors to scale back bets on an early rate hike and sending long-term interest rates lower.

Risk appetite strengthened among investors, with buy orders concentrated in IT-related stocks. The tech-heavy Nasdaq Composite finished up 319.26 points at 27,190.86.