U.S. stocks advance after cooler-than-expected employment data

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeInvestorU.S. stocks advance after cooler-than-expected employment dataThe S&P 500 Index gained 0.8% at 12:18 p.m. in New York, eyeing a second-straight day of gainsAuthor of the article:Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell, in New York City on Sept. 28, 2026. Photo by CHARLY TRIBALLEAU / AFP via Getty ImagesU.S. stocks rose on Friday as key jobs data came in below expectations, taking pressure off the United States Federal Reserve to raise interest rates later this month.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe S&P 500 Index gained 0.8 per cent at 12:18 p.m. in New York, eyeing a second-straight day of gains. The technology-heavy Nasdaq 100 Index climbed 1.2 per cent. Brent crude hovered at around US$100. The Russell 2000 Index, which tracks small-cap stocks, jumped one per cent.This advertisement has not loaded yet, but your article continues below.Firms added fewer jobs than expected in September, pointing to cautiousness to hire as costs rise. Nonfarm payrolls rose 29,000 last month after a downward revision to the prior two months, according to Bureau of U.S. Labor Statistics data out Friday.Canada's best source for investing news, analysis and insight.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try again“September’s disappointing employment report showed renewed slowing in job growth heading into the fall, potentially foreshadowing enough moderation in economic activity to delay additional Federal Reserve interest-rate hikes,” said Jennifer Timmerman, senior investment strategy analyst at Wells Fargo Investment Institute.The report also showed that the unemployment rate rose to 4.2 per cent, partly reflecting a growing workforce. Jason Pride, chief of investment strategy and research at Glenmede, said that it rose for the “right reasons.” The increase here reads as a “sign of confidence rather than distress,” he added.“After spending most of this year at the low end of the range consistent with full employment, a tick higher in the unemployment rate matters far less than the reason behind it,” Pride said. “Workers choosing to come off the sidelines is an encouraging signal about how they view their prospects.”This advertisement has not loaded yet, but your article continues below.After the jobs data, interest-rate swaps showed traders priced in about a 20 per cent chance that the Fed lifts benchmark borrowing costs at its October meeting, compared to nearly 30 per cent prior to the report. They briefly ceased to fully price in a hike by the end of the year.Among single-stock movers, Nike Inc. shares slumped after the sportswear company’s revenue guidance for the full year fell short of consensus estimates. The company announced a restructuring plan that it said will save US$2.5 billion over the next five years. On Semiconductor Corp. gained after the chipmaker said it will buy Synaptics.Sectors in focusShares of Western Digital Corp. and Seagate Technology Holdings Plc are both lower, after Nikkei reported that Toshiba would invest ¥60 billion to double its production capacity for hard disk drives.Shares in rocket, satellite, and space-linked companies are rising, with Satellogic Inc., Intuitive Machines Inc., and SpaceX among the gainers.With assistance from William HaddadThis advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.