Will Fed pause rate hikes?

NEW YORK, Oct 5 — Global stocks rose Friday after weak U.S. jobs data boosted hopes the Federal Reserve may pause rate hikes. The Dow gained 250 points, or 0.49%, to 51,176.46, the S&P 500 rose 0.73% to 7,722.72, and the Nasdaq climbed 1.19% to 27,190.86 after briefly hitting an all-time high.

Fed

September nonfarm payrolls showed just 29,000 jobs added, well below expectations of 84,000, with unemployment ticking up to 4.2%. Federal Reserve funds futures now suggest a 77% chance of no rate hike at this month’s meeting.

Europe’s STOXX 600 rose 0.75% to 631.35, supported by easing oil prices and defensive buying. Asian markets were mixed, with South Korea’s KOSPI up 0.46% on chipmaker strength, Japan’s Nikkei 225 down 0.94% on profit-taking, and Hong Kong’s Hang Seng plunging 2.60% as trading resumed post-holiday.