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equity markets advanced on October 2 as a softer-than-expected September jobs report cooled bets on Federal Reserve rate hikes.
The Nasdaq Composite reached a record high of 27,191, gaining 1.18%, while the S&P 500 climbed 0.70% to 7,720 and the Dow Jones Industrial Average rose 0.35% to 51,107 as of 11:38 a.m.
The Labor Department data showed the U.S. economy added only 29,000 jobs last month, with the unemployment rate rising to 4.2%.
This unexpected slowdown in labor market growth reduced investor expectations for monetary tightening.
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