Dow surges 300 on jobs report, trade optimism

Friday, 04. October 2019 20:34

Stocks in the United States extended gains on Friday with the Dow Jones Industrial Average soaring 300 points on trade optimism and the latest jobs data. The US Bureau of Labor Statistics said that nonfarm payrolls in the country rose by 136,000 in September, while the unemployment rate fell to a 50-year low of 3.5%. Meanwhile, US President Donald Trump stated he believes there is a "very good chance" for the US to strike a trade deal with China ahead of next week's high-level talks between the two countries.

The Dow Jones surged 1.14% or 300 points at 2:34 pm ET. The best performer was Apple, whose shares rose 2.97% at 2:46 pm ET on reports the tech giant increased the production of iPhone 11.

The Nasdaq 100 jumped 1.32% at 2:35 pm ET with Skyworks Solutions, which rallied 4.10% at the same time, leading the gains. The S&P 500 climbed 1.16% at 2:36 pm ET.

The euro was up 0.15% against the dollar to sell for 1.09812 at 2:37 pm ET.

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Breaking the News / NP