U.S employment report.
AL T:
I see another rate cut by the FED sooner.
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Friday October 2, 8:41 am Eastern Time
(Note: this article is ''in progress''; there will likely be an update soon.)
US stocks seen higher, jobs report a mixed message
NEW YORK, Oct 1 (Reuters) - U.S. stocks were expected to open higher, bouncing off their two-day slide, after a weaker than expected U.S. employment report appeared to confirm a slowing domestic economy.
The report was eyed as a mixed message for stocks, as it reinforced worries about growth and corporate profits but also raised expectations of further easing by the Federal Reserve.
''If the Fed was unclear on what course of action to take, this should affirm we need an aggressive easing as soon as possible,'' said Philip Orlando, chief investment office at Value Line Asset Management.
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Friday October 2, 8:39 am Eastern Time
U.S. job growth slows, unemployment up
WASHINGTON, Oct 2 (Reuters) - U.S. payroll employment grew at its weakest pace in nearly three years in September and the unemployment rate rose as financial turmoil overseas hit the domestic economy, the government said on Friday.
Payrolls outside the farm sector increased by 69,000 last month, an abrupt slowing from the 309,000 gain in August, the Labor Department said. The jobless rate edged up to 4.6 percent from 4.5 percent in August
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