Stocks Trade Up on Weaker US Jobs Data Cooling Treasury Yields
Several stocks, including Tutor Perini, Kennametal, CSW, United Rentals, and Keysight, experienced gains in afternoon trading. This upward movement followed the release of U.S. employment data showing nonfarm payrolls rose by only 29,000 in September, which fell significantly short of expectations. The weaker-than-expected jobs report led to a cooling of Treasury yields, thereby easing borrowing-cost pressures across various sectors.
S. employment data helped cool Treasury yields, easing borrowing-cost pressure across the sector. The Bureau of Labor Statistics said nonfarm payrolls increased by 29000 in September, well below expectations.