The October report was stronger than expected with the US economy adding 128,000 jobs. The unemployment rate did slightly rise to 3.6 percent, but remains near a 50-year low. For the second month in a row, average hourly wages also rose 3 percent from last year.

Primarily due to the GM strike, the US lost 41,600 manufacturing jobs last month, but was expected to serve as an even bigger drag on the market than it did. Hiring slowed down in 2019 in comparison with 2018, averaging 167,000 jobs a month versus 223,000 a year ago. The stock market didn’t react as much after the close, but Dow (INDU) futures were up 30 points.