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U.S. stocks jump as employers unexpectedly cut 23,000 jobs, raising hopes for easier rate policy
['Damian J. Troise', 'The Associated Press']
News – NBC 7 San Diego
Stocks rose in morning trading on Wall Street Friday and Treasury yields fell after the government reported that employers unexpectedly cut 23,000 jobs last month.
Wall Street expects at least one rate increase by the end of the year.
A weakening jobs market could make matters more complicated for the Fed, which has to balance supporting job growth with fighting inflation.
A weaker jobs market, though, could become even more battered under higher interest rates as businesses find it more difficult to expand under increased borrowing rates.
Businesses, and Wall Street, prefer lower interest rates because it can help boost investments.