U.S. Stocks Close Modestly Higher Following Choppy Trading Day
- On Friday, October 2, 2026, the Nasdaq Composite reached a record intraday high after the Labor Department reported the economy added just 29,000 jobs in September, well below expectations.
- Treasury yields retreated following the weak jobs report, supporting technology and growth stocks; investors reduced expectations for an October Federal Reserve rate hike to just 23.8% from 64.2% a week earlier.
- Technology shares led the advance, with Nvidia hitting a record $5.7 trillion market capitalization; shares of AMD and CrowdStrike also moved higher, with Nvidia's 1.3% gain the strongest force lifting the S&P 500.
- Separately, President Donald Trump announced Friday that European nations agreed to release strategic diesel stocks coordinated through the International Energy Agency, with a substantial release expected within the first 20 days.
- Despite the gains, Robert Bernstone, head of trading at SummitTX Capital, expressed "cautious optimism," citing persistent concerns over economic growth and inflation as policymakers await additional labor-market data.
55 Articles
55 Articles
The week did not go very well on Wall Street. At the end of the week it goes up again. This is also because the labour market data in the USA are worse than expected.
Technology stocks led the recovery with Nasdaq hitting new intraday highs - Weak employment growth limits bets on a second consecutive interest rate hike by the Fed - Bond market stabilizes
Why Weak Jobs Data Can Lift Stocks
Stocks can rise after disappointing economic news, even when that reaction seems backward. I saw this pattern after a weak September jobs report reduced expectations for another Federal Reserve rate increase. The market was not celebrating weaker hiring. Investors were responding to the possibility of lower interest rates and less pressure on company values. The […]
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