Official
Bureau of Labor Statistics data showed nonfarm payrolls rose by a mere 29,000
in September, missing forecasts of 89,000 to 90,000, while August figures were
revised down by 29,000. The unemployment rate climbed from 4.1% to 4.2%, and
average hourly earnings grew more slowly than expected.
This cooling labor market lifted stock futures, eased Treasury yields, softened the dollar, and boosted gold over 1%, with traders eyeing Federal Reserve pauses on rate hikes amid limited sector gains and a slight uptick in labor force participation.