US Adds 29,000 Jobs, Stocks Rally and Tesla Deliveries Beat Estimates: What's Going On Today

Markets

The US added 29,000 jobs in September, well below expectations, and unemployment rose to 4.2%, according to October 2 Labor Department data reported by Reuters and the Associated Press. Reuters said US stocks rose Friday as softer jobs data eased rate-hike concerns; AP also reported stocks climbed near a record as the report calmed worries about inflation.

Separately, Reuters reported the G7 plans to release 100 million barrels of oil and fuel products after prices surged. The announcement is intended to help ease supply and price pressure.

Tech

Tesla reported 486,532 vehicle deliveries in the third quarter, topping analyst estimates, Reuters and CNBC reported on October 2. The figure was still down about 2% from a year earlier, but the better-than-expected result lifted Tesla shares.

Sources

Reuters, Associated Press (AP), CNBC.