The Jobs Report Was Much Weaker Than Expected. Odds Of a Fed Hike Decreased Further.

- Private payrolls increased by only 29,000 in September, a figure well below the 84,000 increase expected by Dow Jones economists.
- The CME Group's FedWatch tool shows the probability that the central bank will keep interest rates unchanged has risen to 86.2%.
- This weak labor market data reduces the likelihood of a Federal Reserve rate hike, which directly affects borrowing costs for businesses and consumers.
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