Stocks Turn Mixed as Bond Yields Climb

Today’s report from private firm Challenger, Gray & Christmas signals ongoing weakness in the US labor market. US Sep Challenger job cuts fell 25.8% y/y to 54,064. Employers have announced plans to cut 946,426 jobs so far this year (Jan-Sep), the most for the same comparable period since 2020. For January through September, US-based employers announced plans to add almost 205,000 jobs, the weakest year-to-date stretch since 2009.The White House has warned that if the government shutdown lingered, it would t ...