Nasdaq Jumps 1.2% to Near Record as Weak Jobs Data Cools Rate-Hike Fears
IXIC sits 31% above its 52-week low of $20,690.249.
Summary
The Nasdaq surged 1.19% to 27,190.86, near a record high, after the September jobs report showed only 29,000 new payrolls versus 85,000 expected. The weak number gives the Fed cover to hold rates steady at its upcoming meeting, easing fears of another hike. Treasury yields initially fell but reversed higher on U.S.-Iran tensions, with the 10-year yield up 4.3 basis points to 5.276%. The G7 also agreed to release 100 million barrels of emergency oil stocks, keeping Brent crude near $102. U.S. stocks gave back ground after an early surge but still closed mostly higher.
At the time of this announcement, IXIC was trading at $27,190.86 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,353.68. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.