Stocks Ended Week on High Note

U.S. stocks jumped over 1 percent on Friday, after worries about the economy gave way to a robust rally in beaten-down
energy and materials stocks. The Dow Jones Industrial Average jumped 200.36 points, or 1.23%, to 16,472.37 and was 1% higher for the week. The S&P 500 gained 27.54 points, or 1.43%, to 1,951.36 and recorded a 1% gain over the week. The Nasdaq
Composite advanced 80.69 points, or 1.74%, to 4,707.77 and ended with a 0.5% weekly gain.

The weak U.S. September jobs report published Friday is another sign that Federal Reserve policy may be uncomfortably
tethered to the strength of the global economy, as a year long swoon in exports helped wipe out manufacturing jobs and slow
employment growth.

Walmart laid off 450 employees at its headquarters in Bentonville, Ark., Friday as part of a plan to increase its competitive edge. The cuts apply across the organization, to people in salaried, management positions, said Walmart spokesman Greg Hitt.

Crude prices surged back to a one-week high Friday after the number of working U.S. oil rigs fell to a five-year low. Light,
sweet crude for November delivery settled up 80 cents, or 1.8%, at $45.54 a barrel on the New York Mercantile Exchange.
Brent, the global benchmark, settled up 44 cents, or 0.9%, at $48.13 a barrel on ICE Futures Europe.

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