Stocks Jump as Hiring Softens
The U.S. added 29,000 jobs last month, falling short of expectations but signaling a "not too hot, not too cold" labor market that could temper aggressive Federal Reserve rate hikes.
It was a weaker-than-expected jobs report, but the kind markets tend to like: not too hot and not too cold. Stocks rose as investors bet the Fed will not have to raise rates as aggressively as previously feared. S. added 29000 jobs last month, far short of expectations.