- Title: Wall St rallies in wake of payrolls report
- Date: 4th October 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (OCTOBER 4, 2019) (REUTERS) (SOUNDBITE) (English) REGENTATLANTIC PARTNER AND CO-HEAD OF INVESTMENTS, ANDY KAPYRIN, SAYING: "There's, there's 10 or so factors pulling the economy in the recovery direction, 10 or so pulling in the recessionary direction. There are three players pulling very hard towards recession today. And those are manufacturing numbers. Those are so things like the ISM. The service sector as has weakened considerably, and now the job numbers are pretty weak. And the problem with jobs is that they can infect consumer confidence which is 70% of the economy. So, if this trend continues, if lower wage growth becomes a new trend and it continues to trend downward, that can meaningfully impact markets and the economy."
- Embargoed: 18th October 2019 21:32
- Keywords: recession fears jobs report international trade tariffs
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA002AZOOD59
- Aspect Ratio: 16:9
- Story Text: Wall Street surged on Friday (October 4) after moderate jobs growth in September offered relief from a spate of dismal economic data this week that has rankled markets and fueled concerns the world's largest economy may be sliding into a recession.
The Dow Jones Industrial Average rose 370.74 points, or 1.41%, to 26,571.78, the S&P 500 gained 41.24 points, or 1.42%, to 2,951.87 and the Nasdaq Composite added 110.21 points, or 1.4%, to 7,982.47.
(Production: Aleksandra Michalska)
- Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2019. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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