Stocks Climb After Weak Payrolls Report Lifts Rate-Cut Hopes
Hyperdash NewsMacroUS stocks rose through Friday morning after a weaker-than-expected September jobs report hardened expectations for Federal Reserve rate cuts. The S&P 500 gained +0.70% to 7,720 and the Nasdaq added +1.18%, as Treasury yields held near steady and the dollar slipped.
Scoreboard
- S&P 500 7,720 (+0.70%)
- Euro Stoxx 50 6,233 (+0.94%)
- Nikkei 225 68,309 (-0.94%)
- Gold 4,167 (-0.85%)
- WTI 90.31 (-2.76%)
- US 10Y 5.258% (+2bp)
- DXY 101.9230 (-0.17%)
- Bitcoin 85,349 (+1.42%)
- VIX 15.59 (-4.88%)
- DE 10Y 3.458% (+0bp)
The September employment report drove the morning. Nonfarm payrolls rose far less than forecast and the unemployment rate ticked higher, reinforcing bets the Fed will continue easing. The reaction was muted in rates, with the US 10-year yield edging up +2bp to 5.258%, while the dollar eased, the DXY off -0.17%. Risk appetite broadened: Tesla surged after third-quarter EV deliveries topped estimates, and Rivian climbed after beating delivery expectations. Nike fell on a weak outlook and planned layoffs. The VIX dropped -4.88% to 15.59 as volatility drained from the tape.
Key headlines
- G7 nations to release diesel stocks as wars in Europe and Middle East constrain fuel supplies
- This couple took out an adjustable-rate mortgage when rates were over 8%. Here’s how it worked out.
- The sector in the cross hairs of the bond sell-off looks poised for a bounce, says Mike Khouw
- Ford fends off Hyundai to retain No. 3 U.S. sales position in third quarter
The takeaway
The market read a soft labor report as bullish, a sign investors remain focused on the path of Fed policy over signs of economic cooling. Payrolls undershot sharply and unemployment rose, yet equities rallied and yields barely moved, suggesting traders see easing, not recession, as the dominant story.
Attention turns to the afternoon for whether the morning's gains hold and how Fed officials frame the payrolls miss. Oil is in focus after G7 nations moved to release diesel stocks, with WTI down -2.76% to 90.31 and Brent slipping -1.45% to 100.83, below the key hundred-dollar mark by wire accounts. Gold eased -0.85% to 4,167.
View the S&P 500 chart and data on Hyperdash
Frequently asked questions: October 2, 2026
What happened in the markets today?
US stocks rose through Friday morning after a weaker-than-expected September jobs report, with the S&P 500 up +0.70% to 7,720 and the Nasdaq up +1.18%. The dollar slipped and volatility fell, with the VIX down -4.88%.
Did the stock market go up or down today?
Stocks were higher by midday. The S&P 500 gained +0.70% to 7,720 and the Nasdaq added +1.18% to 27,189.
Why did markets move today?
A soft September jobs report, with payrolls well below forecast and the unemployment rate rising, strengthened expectations for Federal Reserve rate cuts and lifted equities. Strong Tesla and Rivian delivery numbers added support.
How did the S&P 500 do today?
The S&P 500 rose +0.70% to 7,720 by midday, lifted by the weak payrolls print that reinforced rate-cut expectations and by gains in megacap technology and automakers.
What did the dollar and Treasury yields do today?
The dollar edged lower, with the DXY down -0.17% to 101.9230, while the US 10-year Treasury yield edged up +2bp to 5.258%.
Where can I track live market data across asset classes?
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