Markets

US Stocks Slump After Mixed Jobs Data

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US stocks were set to end the week with another round of losses after the release of mixed employment data.

In economic news, nonfarm payrolls increased only 134,000 in September, well below the 180,000 expected but followed 87,000 in upward revisions to leave a higher-than-expected payroll path.

Private payrolls were up 121,000 versus 254,000 previously (revised from 204,000, and versus 230,000 ADP).

The unemployment rate dropped to 3.7% versus 3.9%. Earnings were up 0.3% on the month, the same as in August (revised from 0.4%). The workweek was steady at 34.5.

The US trade deficit widened 6.4% to $53.2 billion in August, close to the -$53.7 billion expected, following the 9.4% widening to $50.0 billion in July.

In Europe, equities were under pressure amid worries over rising US bond yields as well as trade-related concerns.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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