Stocks saw gains on Friday morning as investors reacted to the impressive numbers in the most recent jobs report. The Dow climbed 243 points, representing a 0.6% increase, while the S&P 500 and Nasdaq Composite also experienced positive movements, with gains of 0.8% and 1.2%, respectively.
In September, the US economy added a remarkable 254,000 jobs, surpassing economists' predictions of 140,000 job additions. Additionally, the unemployment rate dropped to 4.1%, lower than the anticipated 4.2%.
This robust performance in the US job market has instilled confidence on Wall Street, with many believing that the economy is on track for a soft landing. A soft landing scenario involves a decrease in inflation without the occurrence of a recession.
Following the Federal Reserve's decision to cut interest rates by 0.5% last month, there has been speculation among investors regarding the central bank's next move. The debate centers around whether the Fed will opt for a quarter-point or half-point rate cut in the upcoming month.
After the release of the latest jobs report, there has been an increase in bets for a quarter-point rate cut in November, as indicated by the CME FedWatch Tool.
