Softer Jobs Data Quiets Wall St Rate-Hike Expectations
Stocks closed higher as weak jobs data reduced expectations for a Federal Reserve rate hike this month, with the Dow up 260.2 points.
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U.S. stock indices ended on Friday, as the lower-than-anticipated US labour market data reduced the likelihood of a rapid increase in the Federal Reserve (FRF) core rate.
Tulsa World
The Billings GazetteEquities close higher, rate-hike expectations down
NEW YORK — Stocks advanced Friday to close out the trading week after weaker-than-expected jobs data dampened expectations for a rate hike from the Federal Reserve at its policy meeting this month.
Wall Street strengthened in trading on Friday (2/10) after the United States (US) employment report showed results that were much weaker than expected.
On February 2nd, the Dow Jones Industrial Average on the New York Stock Exchange continued its upward trend, closing at 51,176.96 dollars, up 250.40 dollars from the previous day. Weak US employment figures dampened expectations of further US interest rate hikes, leading to a surge in buying orders.
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