Forex
US Stocks Rise Near Record High After Softer Jobs Report
US stocks rose near their record high on Friday after the latest jobs report eased worries about inflation.
The S&P 500 gained 0.7% and pulled within 1% of its all-time high set in August, while the Dow Jones Industrial Average was up 164 points or 0.3%, and the Nasdaq composite rose by 1.2%
The jobs report showed employers added 29,000 jobs to their payrolls last month, which was fewer than economists expected and a slowdown from August's hiring rate of 133,000.
This softer-than-expected data pushed traders to pare bets the Federal Reserve will hike its main interest rate later this month at its next meeting, with less than a 21% probability now seen, down from 64% a week ago according to CME Group.