Why it matters
- Weaker hiring lowered the odds of a Federal Reserve rate increase at the Oct. 27–28 meeting.
- Long-term Treasury yields stayed near 24-year highs, which keeps borrowing costs high around the world.
- Brent's drop below $100 eases some pressure on inflation after oil topped that level this week.
Session recap: what happened in this region's trading day, with sources.
U.S. stocks rose Friday after a weak jobs report eased worries that the Federal Reserve will raise interest rates again this month.
The S&P 500 gained 0.7% to 7,722.72, the Dow Jones Industrial Average rose 0.5% to 51,176.96 and the Nasdaq Composite climbed 1.2% to 27,190.86, according to The Associated Press. The Russell 2000 index of smaller companies rose 0.9%.
The gains were not enough to save the week for every index. The S&P 500 ended the week down 0.3% and the Dow fell 1.3%, while the Nasdaq rose 0.5%, AP data show.
A weak jobs report
Employers added just 29,000 jobs in September, the Bureau of Labor Statistics said, and the unemployment rate rose to 4.2%. Revisions cut 60,000 jobs from July and August.
Traders cut the odds of an October rate increase to about 13%, from about 70% earlier in the week, CoinDesk reported, citing CME FedWatch data.
Yields reverse
The bond market's relief was short-lived. The 10-year Treasury yield fell as much as 8 basis points after the report, then turned higher and ended near 5.28%, up about 4 basis points on the day, according to Trading Economics.
Movers
Tesla rose 4.7% after its third-quarter deliveries beat forecasts, and Nvidia gained 1.3%, according to Trading Economics. Nvidia touched an intraday high of $237.88, TheStreet reported.
Storage stocks went the other way. Seagate fell 14.3% and Western Digital 12.2% after a report that Toshiba plans to double its hard-drive output, TheStreet reported. Nike lost 4.8% after its quarterly revenue missed estimates.
Oil slips
Brent crude settled at $99.92 a barrel, down 2.3%, and U.S. crude fell 3.8% to $89.39, according to TheStreet.
What's next
The Fed's next decision is due Oct. 28, at the end of a two-day meeting. Recent remarks from Fed officials have stressed patience: New York Fed President John Williams said Sept. 29 that "there is no need for urgency."
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- The Associated Press, How major US stock indexes fared Friday 10/2/2026
- U.S. Bureau of Labor Statistics, The Employment Situation, September 2026
- CoinDesk, Live updates, Oct. 2, 2026
- Trading Economics, U.S. 10-year Treasury yield
- Trading Economics, United States stock market
- Federal Reserve Bank of New York, Key takeaways from President Williams' speech
- TheStreet, Stock market today, Oct. 2, 2026