The Nasdaq reached a record high after the US economy added just 29,000 jobs in September, a sharp drop from the previous month's gains, according to The Guardian. The weak jobs report raised expectations that the Federal Reserve may pause or delay interest rate increases.
The data marked a significant slowdown in hiring. The report did not provide the August figure for direct comparison, but described September's result as a "sharp drop" from prior month performance.
Markets responded positively to the softer employment data. Investors typically view weaker job growth as a signal that the Fed may hold rates steady or cut them, which can boost equities by lowering borrowing costs and boosting valuations.
Separately, core inflation in the eurozone ticked upward. Inflation excluding energy, food, alcohol and tobacco rose to 2.5% in September from 2.4% in August, according to The Guardian.