Jobs report posts massive beat, unemployment rate falls to 4.1%

NYSE American - Delayed Quote USD

DIMENSIONAL INTERNATIONAL VECTO (^DXIV-EU)

11,639.82

-55.05

(-0.47%)

As of 8:00 AM EDT. Market Open.

S&P 500 jumps at the open after strong jobs report

The three of the major indexes (^DJI,^GSPC, ^IXIC) rose sharply at the open following the much better-than-expected September jobs report. Yahoo Finance Markets and Data Editor Jared Blikre breaks down the action at the open. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Stephanie Mikulich.

Yahoo Finance Video 1 hour ago

^GSPC
September jobs data, port strike suspended, oil prices: 3 Things

It's a huge day on Wall Street. Here are three things investors need to know to start the trading day. Stocks (^DJI,^GSPC, ^IXIC) are set to soar at the open after the September employment report showed 254,000 jobs were added in the month. That's much higher than the 150,000 economists had been expecting.  There was another sigh of relief after striking dockworkers agreed to return to work after reaching a tentative agreement with the United States Maritime Alliance. The workers have extended their current deal until January 15, 2025 to allow time for a final deal to be reached. Another thing investors are watching is oil prices (CL=F, BZ=F), which have soared about 9% this week on escalating Middle East tensions. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Stephanie Mikulich.

Yahoo Finance Video 1 hour ago

^DJI

BZ=F

CL=F
There's more upside to China stocks, KraneShares CIO argues

KraneShares CIO Brendan Ahern joins Morning Brief to discuss how investors can best play the China stock rally. "On Monday on the Shanghai and Shenzhen Stock Exchange, you had 5,000 stocks went up, four went down. So this is an everything going up [rally]," Ahem tells Yahoo Finance. He believes that investors will gravitate toward growth stocks, and highlights KraneShares's KWEB ETF (KWEB), which targets Chinese internet names. He explains, "People look at the e-commerce space because that's the transmission engine for domestic consumption as it occurs online." He notes that China can be thought of as two different markets: offshore and onshore. In other words, China's major markets can be split up between the offshore Hong Kong Stock Exchange and the mainland Shanghai and Shenzhen Stock Exchanges. He explains that the onshore China market is more for Chinese investors while the offshore China market is more geared toward foreign investors. Ahern adds that KWEB is still 70% below its historical average in terms of its one-year forward P/E (price-to-earnings ratio), which shows "how depressed the evisceration of Chinese equities is as an asset class." Thus, he believes there is a lot more upside to China stocks, and believes the rally can continue. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

Yahoo Finance Video 4 hours ago

^HSI

KWEB
Strong economy supports stocks, even if next cut isn’t 50 bps: Strategist

As investors grapple with uncertainty around the geopolitical conflict in the Middle East, the ongoing port strike, and other factors, Jeremy Schwartz, WisdomTree Global CIO, sits down with Josh Schafer and Madison Mills on Market Domination to discuss his expectations for the market. Schwartz says markets have been largely focused on the Federal Reserve and its next move, which investors hope Friday’s jobs report will shed some light on. He says the Fed’s 50 basis point cut acted as an “extra booster shot” and “earnings have been coming in good … so the environment has been good for that underlying fundamentals of the market, and you've got the Fed now contributing to a little bit easier conditions.” Read more: What the Fed rate cut means for bank accounts, CDs, loans, and credit cards He says the 50 basis point cut could be “the key impetus” for small-cap stocks. “Small caps can't issue debt the same way they're borrowing at these floating rate instruments. So they're paying the higher interest rates. So hopefully these lowering of rates helps ease their interest burden. But you also do need to see the earnings pick up. Now the economy has been strong. It tends to be, or it's been holding in pretty resiliently. That tends to be good for small-cap earnings. But last quarter was not great. So you got to see it as we get to next quarter earnings have that momentum turn around.” On the economic front, “We definitely don't think it's that Powell sees something we don't,” Schwartz says, explaining, “Unemployment's basically at their long-term target. Inflation is trending in their direction. Now you have all these sorts of short-term stuff. The port strike, the Middle East war … We think they will look through some of this short-term noise that inflation is coming down and that they can keep cutting, but it's not that they see some underlying weakness. It's that they realize their 250 basis points restrictive from a neutral policy stance from what they say is their neutral policy stance.” Schwartz indicates the market is pricing in one cut from the Fed in every meeting throughout the summer. “That would get them to that 3.5% by next summer. We would like them to go faster, but in reality, the good news is good news for the stocks. You want a good economy. You want strong earnings.” This post was written by Naomi Buchanan.

Yahoo Finance Video 18 hours ago

^GSPC
Stock market today: Dow leads declines ahead of jobs report, oil surges 5% as Mideast focus intensifies

With the jobs report a day away, the focus is tentatively turning back to the economy, pushing Mideast worries to the background.

Yahoo Finance 19 hours ago

^DJI

^GSPC

^IXIC
US economy is still 'chugging along' despite market uncertainty

Events like Hurricane Helene, rising Middle Eastern geopolitical tensions, the upcoming US election, and an ongoing Federal Reserve rate-cutting cycle are all contributing to heightened volatility within markets (^GSPC,^IXIC,^DJI). MJP Wealth Advisors chief investment officer Brian Vendig joins Wealth! to discuss his market outlook. Vendig notes that October is historically a volatile month for markets, and with new events adding to this trend, he says, "going into earnings, it wouldn't be surprising that the volatility levels" remain until after the US election and throughout the beginning of 2025. However, despite this, he points out that earnings outlooks for the remainder of the year and throughout 2025 remain robust, stating, "We still have an economy that's chugging along." "I think investors need to look past some of the short-term emotional responses to some of these variables and come back to the fundamentals longer-term," he advises. For retirement investors during this time, Vendig recommends focusing on "controlling the things that you can control." He suggests individuals review their contributions to retirement accounts, which can aid in areas like tax deductions. Additionally, he proposes looking into investing in municipal bonds, noting they tend to be less volatile than stocks. "At the end of the day, have a plan is what I'm saying real simply," he told Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith

Yahoo Finance Video 22 hours ago

^GSPC
Econ data points to 'cracks' in US economy: Economist

New initial jobless claims and ISM Services PMI data released Thursday morning offer investors fresh insights into the economy. With a week full of economic indicators leading up to Friday's jobs report, what are these figures signaling about Federal Reserve monetary policy? PGIM Fixed Income Chief U.S. economist Tom Porcelli joins Catalysts to share his analysis. Porcelli describes the recent weeks of economic data as "interesting," suggesting they likely made the Fed "comfortable" with their decision to initiate the rate cut cycle with a 50 basis point reduction. He observes emerging "cracks" in the labor market, noting that JOLTS data revealed a declining quit rate and a recovering hiring rate, among other indicators that "support that idea." Porcelli believes these labor market dynamics reinforce the Fed's inclination to remain "aggressive" in their monetary policy approach. Regarding the market outlook, Porcelli predicts, "I would expect that the market remains very choppy." He elaborates, "And that is consistent with the idea that the economy is in the midst of slowing down," though he doesn't anticipate an imminent recession. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith

Yahoo Finance Video 23 hours ago

^DJI

^GSPC

^IXIC
China has 'unleashed' 'monetary fiscal bazooka': KraneShares CIO

The Hang Seng (^HSI) ended the day lower after 13 straight days of gains following a wave of stimulus measures aimed at bolstering the country's struggling economy. KraneShares CIO Brendan Ahern joins Morning Brief to discuss the stimulus efforts and the outlook for China stocks. "We've seen the monetary fiscal bazooka unleashed, really geared to supporting the real estate sector, which obviously has depressed prices, have really weighed on consumer confidence, domestic consumption... You're also seeing outright the PBoC (People's Bank of China) and CSRC (China Securities Regulatory Commission) — their version of the SEC — saying we'll give insurance companies, mutual fund families, brokerage firms, 500 billion RMB to buy stocks. If that doesn't get the stock market up, we'll give them another 500 billion," Ahen says of the stimulus measures. However, he notes that there still hasn't been a clear articulation of fiscal policy. "What are they going to do in terms of its consumption vouchers? What are the things they're going to do to get domestic consumption up?" he asks. He hopes the People's Bank of China will offer more clarity over the next several weeks, which could offer more good news for markets. While JPMorgan has warned investors about the risks of chasing the rally given its high valuations, Ahern argues it's still in the "very, very early innings." With more information from Chinese officials expected, the rally could continue. He adds, "Instead of looking through the rearview mirror, let's look through the windshield." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

Yahoo Finance Video 23 hours ago

^HSI
Cantaloupe Chairman Doug Bergeron Bought Up Stock

Chairman Doug Bergeron paid $2.1 million for 284,000 shares of Cantaloupe, a provider of technology for point-of-sale systems and vending machines.

Barrons.com 14 minutes ago

^GSPC
The S&P 500 Is Headed to 6000. Here’s Why.

A resilient economy—and an unusually strong September—bode well for the rest of the year. Why the S&P 500 could hit a new record.

Barrons.com 23 minutes ago

^GSPC
The Dow jumps 200 points as hiring smashes expectations and the port strike ends

The Dow surged by more than 260 points following the release of strong job data and the end of the U.S. dockworkers’ strike, indicating a robust economy. According to the Bureau of Labor Statistics, 254,000 jobs were added in September; the unemployment rate dipped to 4.1%.

Quartz 58 minutes ago

^DJI
Should JPMorgan Stock be Part of Your Portfolio Ahead of Q3 Earnings?

JPM is slated to report Q3 earnings next week. Here, we discuss the factors influencing its performance and whether the stock should be in your portfolio.

Zacks 1 hour ago

JPM

^GSPC
Stocks Open Higher, Treasuries Fall as Market Tempers Bets on Rate Cuts

Stocks opened higher on the back of a surprisingly strong jobs report, which challenges the outlook for a recession and led traders to to adjust expectations for lower interest rates. The S&P 500 was up 0.7%, while the Nasdaq Composite was up 1.1%. U.S. jobs growth beat expectations by a large margin, adding 254,000 jobs in September, way above the 140,000 forecast on FactSet.

Barrons.com 1 hour ago

COMP

^DJI

^GSPC
A Week Into October, Energy Stocks Are Leading the S&P 500

STOCK ALERT The is trading lower this month, but a few sectors are in the green. The energy sector has gained 5%, utilities are up 0.8%, and communication services rose 0.2%, according to Dow Jones Market Data.

Barrons.com 1 hour ago

^GSPC
4 Insurance Brokerage Stocks to Benefit From Higher Demand

Increased demand for insurance products, given the rising population of baby boomers and millennials, and the adoption of technology should drive insurance brokers like MMC, AJG, BRO and WTW.

Zacks 1 hour ago

BRO

AJG

^GSPC
Should You Invest in Starbucks Corporation (SBUX)?

ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, increased volatility was caused by weak employment reports, leading to a brief correction in parts of the U.S. equity market. However, after a 50 […]

Insider Monkey 2 hours ago

SBUX

^RUT
US Sept payrolls jump takes Nov 50 bp cut off the table

The initial reactions are that yields are jumping, and the market is taking off some of the degree or the number of rate cuts off the table or pushing them further out. I think on the equity side, equity markets are still buoyant. It looks like they like this.

Reuters 2 hours ago

^GSPC
Is It Too Late to Buy IBM Stock?

IBM has been crushing the stock market in 2024. Is it too late to jump aboard this Big Blue bandwagon?

Motley Fool 2 hours ago

IBM

^GSPC

GOOG
Weak Global Auto Demand and Slow EV Transition Impacted Aptiv PLC (APTV)

ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, increased volatility was caused by weak employment reports, leading to a brief correction in parts of the U.S. equity market. However, after a 50 […]

Insider Monkey 2 hours ago

APTV

^RUT
ClearBridge Large Cap Growth Strategy Increased its Position in Accenture (ACN) in Q3

ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, increased volatility was caused by weak employment reports, leading to a brief correction in parts of the U.S. equity market. However, after a 50 […]

Insider Monkey 2 hours ago

ACN

^RUT