US Stocks Jump on Weaker Jobs Data, Lower Treasury Yields
FuelCell Energy, Nextpower, Wabash, Avis Budget Group, and Novanta shares surged in morning trading following weaker-than-expected U.S. employment data. The Bureau of Labor Statistics reported that nonfarm payrolls rose by only 29,000 in September, significantly below expectations, which led to a cooling of Treasury yields and eased borrowing costs.
S. employment data pushed Treasury yields lower, easing borrowing-cost pressure across the sector. The Bureau of Labor Statistics said nonfarm payrolls rose by 29000 in September, falling far short of expectations.