Snapping four days of a losing streak, US markets rose on 4th November 2022 in volatile trade as investors wrestled with a mixed jobs report and comments from Federal Reserve officials on the pace of interest rate hikes.

The Dow Jones Industrial Average rose 410 points, or 1.3 per cent, to 32,412. The S&P 500 gained 51 points, or 1.4 per cent, to 3,771. The Nasdaq Composite gained 134 points, or 1.3 per cent, to 10,477.

The labour market report showed an uptick in the unemployment rate in October, indicating some signs of slack may finally be starting to emerge in the job market and give the Fed room to downsize its rate hikes beginning in December.

But the data also showed average hourly earnings rose slightly more than expected, as did job growth, pointing to a labor market that largely remains on a firm footing.