Stock Market Today Stocks Swing Wildly After October Jobs Data Kiplinger Kiplinger is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Here's why you can trust us.

Stock Market Today Stocks Swing Wildly After October Jobs Data

The major indexes ended with their first win of the week thanks to the latest jobs report. (opens in new tab) (opens in new tab) (opens in new tab) Newsletter sign up Newsletter (Image credit: Getty Images) By Karee Venema published 4 November 2022 The latest jobs report sent markets on a wild ride Friday. Early this morning, the October jobs report showed that nonfarm payrolls rose by 261,000 last month, well above economists' consensus estimate for 193,000. On the plus side, this marked a sharp decline from the 315,000 jobs added in September. Additionally, the unemployment rate edged up to 3.7% from September's 3.5%.

9 Top Energy ETFs to Buy Now "The initial reading is indicating that the U.S. economy has been quite resilient in the face of the multiple rate hikes by the Fed," says Ziad Gergi, senior fund manager at Hargreaves Lansdown. "In addition, the interesting reading was on the [month-over-month] average hourly earnings that came slightly above expectation at +0.4% (versus 0.3%) indicating a continued wage inflation."

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Profit and prosper with the best of Kiplinger's expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of Kiplinger's expert advice - straight to your e-mail. Sign up Brad McMillan, chief investment officer for Commonwealth Financial Network, gave "two cheers" to this jobs report. There was "enough growth to keep the economy, and earnings, going, but enough slowing that the Fed and markets can plausibly see a pause sometime in the next six months or so," McMillan says. "This isn't a perfect Goldilocks report, not too hot and not too cold, but it is as close as we were going to get." Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. And Wall Street eventually agreed. Stocks initially sailed higher after the report, only to swing into negative territory by lunchtime. However, a late-day burst of buying power had the tech-heavy Nasdaq Composite closing up 1.3% at 10,475, while the broader S&P 500 Index (+1.4% at 3,770) and the blue-chip Dow Jones Industrial Average (+1.3% at 32,403) also ended the day higher. It was the first win of the week for all three indexes.

What s In Store for Markets Next Week

A busy earnings calendar, for one, with results from Walt Disney (DIS (opens in new tab)), Beyond Meat (BYND (opens in new tab)) and Bumble (BMBL (opens in new tab)) among the reports on tap. The results of Tuesday's midterm elections will certainly be in focus, too. However, the big event will likely be Thursday morning's release of the October consumer price index. In September, consumer price inflation showed no signs of slowing down – and many on Wall Street aren't expecting that to change this time around.

5 Best Dow Dividend Stocks to Buy Now "We estimate that inflationary pressures remained robust, with core once again supported by very strong shelter inflation and idiosyncratic factors providing headwinds," says Barclays economist Jonathan Hill. "We forecast price growth across food, energy, and core services." The economist adds that declining used car prices will help offset some of those headwinds. We've discussed many times in this space ways in which investors can position their portfolios to protect against high inflation. These include taking positions in firms found within "inflation-resistant" sectors, i.e., those providing goods and services that people will buy no matter what, like consumer staples and healthcare. Another option is to target the best dividend stocks. As for investors looking to optimize the income portion of their equity income holdings, look no farther than the top high-paying dividend stocks. Not all these names are created equal, but the 10 stocks featured here all have solid fundamentals and boast dividend yields of at least 5%.

Where to Put Safe Money Today Explore More Stock Watch Markets Stock Market Today Karee VenemaContributing Editor, Kiplinger.comWith over a decade of experience writing about the stock market, Karee Venema is an investing editor and options expert at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis. Latest 4 Ways You Can Take Advantage of a Down Market With markets down for the year, it may seem that all the news is bad. But now could be a good time to make some profitable moves. By Adam Grealish • Published 11 November 22 New, Used or Leased: Is Now the Time to Buy an Electric Vehicle? The Inflation Reduction Act created new tax breaks for electric vehicles. Here's a guide to which EVs count and the best time to buy. By Rivan V. Stinson • Published 11 November 22 You might also like Stock Market Today: Stocks Lift Off After Encouraging Inflation Report The major market indexes rallied to their best day in two years after data showed inflation slowed in October. By Karee Venema • Published 10 November 22 Stock Market Today: Stocks Snap Win Streak as Midterm Results Roll In A continued selloff in cryptocurrencies and crypto-related stocks put pressure on the broader market today, too. By Karee Venema • Published 9 November 22 Stock Market Today: Huge Crypto Deal Shakes Up Nasdaq News that crypto exchange Binance will buy its rival sent Bitcoin and several tech stocks into a tailspin. By Karee Venema • Published 8 November 22 Stock Market Today: Stocks Rise Ahead of Midterms The Dow outperformed thanks to a major M&A-related boost for drugstore chain Walgreens Boots Alliance. By Karee Venema • Published 7 November 22 Kiplinger's Weekly Earnings Calendar (Nov. 7-11) stocks Check out our earnings calendar for the upcoming week. By Karee Venema • Last updated 11 November 22 Stock Market Today: Stocks Fall Again as Fed Hangover Persists The major market indexes notched a fourth straight loss as Powell's rate-hike warning kept investor sentiment in check. By Karee Venema • Published 3 November 22 Stock Market Today: Stocks Post-Fed Pop Reverses After Powell Takes the Mic It was a volatile session on Wall Street as investors parsed over the Fed's latest policy statement and Powell's presser. By Karee Venema • Published 2 November 22 Stock Market Today: Stocks Retreat After Strong Job Openings Data The latest jobs data comes as the Fed kicked off its two-day meeting, with another jumbo-sized rate hike expected to be announced tomorrow. By Karee Venema • Published 1 November 22 View More ▸ kiplinger About Us (opens in new tab) Terms and Conditions (opens in new tab) Privacy Policy (opens in new tab) Cookie Policy (opens in new tab) Kiplinger is part of Future plc, an international media group and leading digital publisher. Visit our corporate site.
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