Stocks Rise and Dollar Falls on Weak US Jobs Data
Major stock indexes rose and the dollar fell after softer than forecast US jobs data reduced expectations for a Federal Reserve rate hike. Meanwhile, government bond yields rose as a global market selloff resumed.
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United States nonfarm payrolls increased by 29,000 jobs in September, falling short of the forecasted 90,000. The softer employment data eased immediate pressures on markets. That shortfall prompted traders to reprice Federal Reserve rate expectations, boosting equities while bond markets faced renewed selling.
