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Stocks rise after modest job gains, unemployment falls to 50-year low

October 4, 2019

U.S. stocks rose at the start of trade Friday, reversing losses in premarket trade, after the Labor Department estimated that the American economy added 136,000 jobs in August, enough to let the unemployment rate to fall to a 50-year low of 3.5%, but not to dissuade the Federal Reserve from cutting interest rates further this year.

Investors await a speech from Federal Reserve chair Jerome Powell later Friday.

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