S&P 500 rises 0.7% near record as slower hiring eases inflation worries

Stocks rallied on October 2 after a jobs report showed slower hiring, which eased worries that a strong economy would keep inflation high. The S&P 500 gained 0.7% to 7,722.72, close to its record, and the Nasdaq Composite rose 1.2%. Traders saw the cooler labor data as reducing the risk of further rate hikes.

• S&P 500 up 56.27 points (+0.7%) to 7,722.72
• Nasdaq Composite up 319.27 points (+1.2%) to 27,190.86
• Dow Jones up 250.40 points (+0.5%) to 51,176.96
• Russell 2000 up 26.27 points (+0.9%) to 2,832.90