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US Equities Markets End Higher Friday as Economy Adds More Jobs Than Projected
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US Equities Markets End Higher Friday as Economy Adds More Jobs Than Projected
Oct 4, 2024 8:31 PM

04:01 PM EDT, 10/04/2024 (MT Newswires) -- US benchmark equity indexes ended higher Friday after official data showed the economy added more jobs than projected in September.

* Total nonfarm payrolls in the US climbed by 254,000 last month, the Bureau of Labor Statistics reported. The consensus was for a 150,000 increase, according to a survey compiled by Bloomberg. The unemployment rate declined to 4.1% from August's 4.2%, which was the market view for September.

* The odds that the central bank's Federal Open Market Committee will lower interest rates by 25 basis points next month surged to 97% Friday from 68% Thursday, while the probability of a 50-basis-point cut slid to zero from 32%, according to the CME FedWatch tool.

* November West Texas Intermediate crude oil closed up $0.67 to settle at $74.38 per barrel, while December Brent crude, the global benchmark, was last seen up $0.70 to $78.32, as the market awaits Israel's response to Iran's missile attack this week.

* Norwegian Cruise Line ( NCLH ) shares were up 4.4% as Stifel adjusted its price target on the stock to $29 from $27 while maintaining its buy rating.

* Rivian Automotive's ( RIVN ) Q3 vehicle production and deliveries missed analyst estimates amid a supply shortage, prompting the electric vehicle maker to lower its full-year output guidance. The company's shares were down 3.7%.

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