Stock Market Today: Stocks Swing Higher After September Jobs Shocker

The main benchmarks finished the day with solid gains even after a much higher-than-expected jobs report.

Blue stock market chart with teal bars and moving average going higher
(Image credit: Getty Images)

Stocks opened lower Friday as a sizzling September jobs report caused Treasury yields to jump. However, the main indexes didn't stay in negative territory for long as bargain hunters swooped in.  

Taking a closer look at this morning's nonfarm payrolls data shows the U.S. added 336,000 new jobs in September, nearly double what economists were expecting. The unemployment rate held steady at 3.8%, while average hourly earnings – a measure of inflation that's tracked by the Federal Reserve – were up 4.2% year-over-year, the slowest annual pace since June 2021.

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.