The Dow Jones Today Will Rally on Jobs Numbers

The Dow Jones today will turn positive after the U.S. economy reported 136,000 new jobs last month. Markets will get a brief rest from concerns about economic growth and consumer confidence.

The U.S. unemployment rate is also at a 50-year low of 3.5%. But recession fears prevail. More on this further down.

First, here are the numbers from Thursday for the Dow, S&P 500, and Nasdaq:

Index Previous Close Point Change Percentage Change Dow Jones 26,201.04 +122.42 +0.47 S&P 500 2,910.63 +23.02 +0.80 Nasdaq 7,872.26 +87.02 +1.12

Now, here’s a closer look at today’s Money Morning insight, the most important market events, and stocks to watch.

The Top Stock Market Stories for Friday This morning, the markets tied themselves to the mast of one report: the September jobs report. The report was positive; however, there are still cracks showing. This week, Moody’s suggested that about one-fifth of the U.S. economy is already in recession. Meanwhile, several major U.S. companies like HP Inc. (NYSE: HP) and Deere & Co. (NYSE: DE) are planning job cuts as the winter months approach. The markets again anticipate that the Federal Reserve will cut rates by the end of the year. Following the worst manufacturing report in a decade, yields continued to slide in the United States. In fact, we’ve seen a six-day drop in rates as concerns continue to mount around the U.S. services sector as well. Earlier this week, Australia’s central bank cut its official cash rate by 0.25% to a record low of 0.75%. The country cited lackluster growth through the first half of the year – just 1.4%. It blamed the U.S.-China trade war.

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