*WALL ST. RALLIES TO CLOSE OUT BRUTAL WEEK, NASDAQ PLUNGES MOST SINCE JANUARY AS BIG TECH SHARES TUMBLE - $DIA $SPY $QQQ 🇺🇸 🇺🇸
climbed as much as 1.9% on the heels of the closely watched labor market report, before paring gains and briefly falling into negative territory. The report showed an uptick in the unemployment rate in October, indicating some signs of slack may finally be starting to emerge in the job market and give the Fed room to downsize its rate hikes beginning in December.
"You could maybe justify some of this move as this selling got a little overdone after what Powell said at the meeting, so maybe you already had the sellers flushed out." The Dow Jones Industrial Average rose 401.97 points, or 1.26%, to 32,403.22, the S&P 500 gained 50.66 points, or 1.36%, to 3,770.55 and theFor the week, the Dow fell 1.39% to snap a four-week winning streak, the S&P dropped 3.34% and the Nasdaq slid 5.65% for its biggest weekly percentage decline since January.
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Wall St opens lower on rate hike worries By Reuters⚠️BREAKING: *U.S. STOCK FUTURES DEEPEN SELLOFF AS POWELL SINKS PIVOT HOPES - 🇺🇸 🇺🇸
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