The Dow closed at record high after strong jobs report, blunting hopes for interest cut

From Investing.com: 2024-10-04 16:14:32

The Dow closed at fresh record highs on Friday following a stronger-than-expected jobs report, easing recession concerns. US employment grew by 254,000 jobs in September, well above economist expectations. The healthy job market blunted hopes for a big interest rate cut in November. Spirit Airlines stock tumbled 25% amid bankruptcy fears, while Rivian Automotive slid 3% after cutting production forecasts. A strike by US dockworkers is expected to end with a wage hike agreement, and Ubisoft Entertainment saw a 33% jump after reports of takeover interest from Tencent.



Read more at Investing.com: Dow rides blowout jobs report to close at fresh record high By Investing.com