Why is US Stock Market Up Today? Dow Jones Gains 400 Points, S&P 500 Rises 0.99%, Nasdaq Climbs 1.56% as Oil Surges, Bond Selloff & Fed Rate Hike Bets Wall Street - Check What Investors Should Know
India, Oct. 2 -- Is the US Stock Market Up Today: On October 2, the US equities indices traded upwards due to lower bond yields, poor jobs numbers and renewed demand for tech-related companies. The Dow Jones Industrial Average, Nasdaq Composite and S&P 500 traded upwards as investors considered the Fed interest rate stance prior to the Fed October meeting. Non-farm payroll in September went up by only 29,000, significantly lower than 84,000-90,000 expected.
At the same time, the unemployment rate grew from 4.1% to 4.2% while poor labor market indicators increased the expectations that the Fed may refrain from raising interest rates. Shares of tech firms, such as Nvidia and Intel, performed well, whereas the share of Nike underperformed o...
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