New York Stock Market Surges... Nasdaq Closes Up 1.22%

Nonfarm Payrolls Increase by 250,000 in September Compared to Previous Month

All three major stock indices on the New York Stock Exchange rose sharply. The increase in employment for September far exceeded market expectations.

On the 4th (Eastern Time, US) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 42,352.75, up 341.16 points (0.81%) from the previous session.

The Standard & Poor's (S&P) 500 index rose 51.13 points (0.90%) to 5,751.07, and the Nasdaq Composite Index closed at 18,137.85, up 219.37 points (1.22%) from the previous session.

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The Department of Labor announced that nonfarm payrolls increased by 254,000 in September compared to the previous month. This figure is 107,000 higher than the market expectation of 147,000.

The unemployment rate for September also recorded 4.1%, falling below expectations and slowing compared to the previous month.

Employment figures for August and July were also revised upward. Nonfarm payrolls for August were adjusted up from 142,000 to 159,000, an increase of 17,000. The July figure rose significantly from 89,000 to 144,000, an increase of 55,000.