Good Jobs Equal Bad Stocks, Alas

Good news for the jobs market continued to be bad news for stocks, as another seemingly incongruous wave prevailed on Friday. A decent job market in September has raised concerns that the Federal Reserve will continue with its indicated rate hikes.

The Labor Department reported Friday that employers added 263,000 jobs in September. This is lower than August’s 315,000 and it continues a general downtrend since a year ago. But it beat economists’ expectations and showed demand for workers continued.