U.S. stocks climb after September payrolls rise by 29,000 and Fed October hike odds fall to 23%
U.S. employers added 29,000 jobs in September, far below expectations and sharply slower than August, easing inflation worries. Traders cut the implied probability of a Federal Reserve rate hike at its October meeting to less than 23% from 64% a week earlier, according to CME Group data. U.S. stocks advanced on the shift, with the S&P 500 up 0.7%, the Dow up 250 points and the Nasdaq up 1.2%. The 10-year Treasury yield dipped below 5.17%, while Brent crude swung between $98 and $103.