Nasdaq Jumps To Record High Following Weaker-Than-Expected Jobs Data
The weaker-than-expected September jobs report lifted rate-cut expectations, with federal funds futures pricing an 86% chance the Fed holds rates, CME FedWatch said.
- On Friday, October 2, 2026, U.S. stock markets opened higher after a weaker-than-expected jobs report eased concerns about Federal Reserve rate hikes this month. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all gained.
- The Labor Department reported the U.S. economy added only 29,000 jobs in September, well below the 84,000-85,000 expected by economists. The unemployment rate also rose to 4.2% from 4.1%.
- Trading in federal funds futures via CME FedWatch shows an 86% probability the Fed will keep rates unchanged in October, up from about 76% a day earlier. Treasury yields fell accordingly.
- Technology and growth stocks rallied, with the Nasdaq climbing 1.3%, as shares of Nvidia, CrowdStrike, Palo Alto Networks, Intel, and AMD moved higher. Lower Treasury yields and oil prices boosted sentiment.
- Despite Friday's broad gains, the Dow and other major averages remain on track for weekly losses following a sharp rise in global bond yields earlier in the week. The Nasdaq is the only major U.S. index heading for a weekly gain.
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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%.
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