Growth Concerns Pitched Against Rate Relief After Weak Payroll Numbers
The major U.S. index futures are pointing to a higher opening on Friday, with futures trimming their gains following the release of the September private payrolls report. The report showed that the pace of hiring slowed notably from recent months and there was notable downward revision to the previous month’s soft numbers. The soft payrolls report could trigger growth concerns, although relief could come by way of alleviation of rate hike concerns. With several Fed officials due to make public appearances, traders may also seek to get interpretation of the jobs report from them.
10/2/2015 4:16:35 PM After falling sharply at the open, stocks staged a remarkable turnaround over the course of the trading day on Friday. The major averages bounced well off their lows for the session and into positive territory, with the Dow showing a nearly 460-point swing on the day.