Arrow, Methode, Proto Labs, SolarEdge Stocks Jump on Weak Jobs Data
Several stocks, including Arrow Electronics, Methode Electronics, Proto Labs, and SolarEdge, saw significant gains in morning trading. This surge followed the release of U.S. employment data that indicated a weaker-than-expected rise in nonfarm payrolls for September, which in turn cooled Treasury yields and eased borrowing-cost pressures.
S. employment data eased Treasury yields and reduced borrowing-cost pressure across the group. The Bureau of Labor Statistics said nonfarm payrolls rose by 29000 in September, well below the consensus expectation.