Nasdaq Jumps To Record High Following Weaker-Than-Expected Jobs Data
Treasury yields fell and rate-hike odds dropped after the report, lifting technology shares and pushing the Nasdaq up 1.3%, traders said.
- On Friday, Oct 2, 2026, the Dow Jones Industrial Average rose 340.08 points, or 0.7 per cent, as major indexes opened higher following a softer-than-expected jobs report that deepened prospects of an unchanged Federal Reserve rate this Oct.
- The Labor Department reported the economy added only 29,000 jobs in September, well below the 84,000 expected by economists, while the unemployment rate rose to 4.2% from 4.1%, indicating a cooling labour market.
- Falling Treasury yields supported technology and growth Shares sensitive to interest rate changes. The 10-year Treasury yield dropped more than 5 basis points to 5.176%, while Intel and AMD Shares gained more than 3%.
- Lower Oil prices provided additional support to stocks despite broader market headwinds. The Dow remained on track for weekly losses, though the Nasdaq Composite was the only major index heading for a weekly gain.
- Markets sharply reduced expectations of an Oct rate hike following the weak jobs data. Trading in federal funds futures showed an 86% probability that the Federal Reserve will keep rates unchanged this Oct, according to CME FedWatch.
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Key indicators in Wall Street rose at the opening on Friday, after a report that showed slower jobs than expected to keep United States interest rates unchanged this month, leading to a greater decline in treasury bonds returns, while oil prices falling contributed to improved morale.
Nasdaq Jumps To Record High Following Weaker-Than-Expected Jobs Data
Stocks have moved mostly higher during trading on Friday, adding to the modest gains posted in the previous session. The major averages have all moved to the upside, with the tech-heavy Nasdaq reaching a record intraday high. The major averages have pulled back well off their highs in recent trading but currently remain positive.
At around 1410 GMT, the Dow Jones was up 0.57%, the Nasdaq index was up 1.61% and the expanded S&P 500 index was down 0.96%. Unemployment rose slightly last month in the United States, from 4.1% to 4.2%, and job creation surprised by their weakness, to 29,000 against 85.000 expected by the markets. The Department of Labour's statistical office also revised down the hirings from July and August. For Jamie Cox, Harris Financial Group analyst, "the…
The New York Stock Exchange, which received the US employment report in September, began trading on an upward trend. At 9:38 a.m. on the 2nd (local time), the Dow Jones 30 Industrial Average showed a level of 501280.04, which was 353.48 points (0.69%) higher than the previous trading day. The Standard & Poor's (S&P) 500 Index rose 67.61 points (0.88%) to 7734.06, the Nasdaq Composite Index
Nasdaq leads Wall Street higher after weak US jobs data; Dow gains 200 points
Indices on Wall Street jumped on Friday, as yields dropped from their highs after a surprisingly weak jobs report raised hopes the Federal Reserve will hold rates steady in October. The Dow Jones Industrial Average rose 194 points, or 0.6%. The S&P 500 gained 0.7%, while the Nasdaq Composite climbed 1.3%.
The New York Stock Exchange is satisfied with the employment figures. The New York Stock Exchange opened up in sharp progress on Friday, satisfied with the latest...
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