Nasdaq hits record 27,191 as weak jobs cool rate-hike bets

Nasdaq Composite climbed 1.18% to 27,191 on October 2, a record, Motley Fool reported. The Bureau of Labor Statistics reported 29,000 jobs added in September, unemployment holding at 4.2%. Weaker hiring cooled bets — meaning market expectations — that the Federal Reserve will raise interest rates, easing pressure on borrowing costs.