The labor market cooled, with the Labor Department reporting only 29,000 new jobs in September—substantially below the 84,000–85,000 economists had forecast—while the unemployment rate ticked up to 4.2% from 4.1%.
Treasury yields followed the weak data, with the 10‑year falling 5 basis points to 5.176% and the 2‑year slipping to 4.75%, easing pressure on growth‑sector valuations.
Tech names surged: Nvidia gained 4.2% to ₹2,300, CrowdStrike rose 6.5%, Palo Alto Networks climbed 3.8%, and AMD jumped 7%—all moving toward record highs amid the yield dip.
Oil prices slipped from recent highs after European governments signaled strategic reserve releases, while a sharp rise in global bond yields earlier in the week had left the Dow and S&P 500 on a path to weekly losses.
Market participants are now pricing in an 86% probability that the Fed will keep rates unchanged at its October meeting, per CME FedWatch, and investors are watching the next earnings season for further confirmation of the labor‑market slowdown.