Stocks Close Higher as Weak Jobs Report Cements Fed Hold; Oil Slides on G7 Diesel Release
Hyperdash NewsMacroUS stocks closed higher Friday after a weaker-than-expected September payrolls report, which showed hiring slowing sharply and unemployment ticking up, erased the remaining case for further Fed tightening. The S&P 500 rose +0.73% and the Nasdaq added +1.19%.
Scoreboard
- S&P 500 7,723 (+0.73%)
- Euro Stoxx 50 6,238 (+1.02%)
- Nikkei 225 68,309 (-0.94%)
- Gold 4,172 (-0.73%)
- WTI 91.43 (-1.55%)
- US 10Y 5.283% (+5bp)
- DXY 101.8900 (-0.20%)
- Bitcoin 84,365 (-0.46%)
- VIX 15.31 (-6.59%)
- DE 10Y 3.461% (+0bp)
September payrolls grew far less than forecast and the unemployment rate edged up, leaving traders pricing little chance of a Fed rate hike in October. Equities rallied on the data, with the Nasdaq closing at 27,191 and the VIX falling -6.59%. Treasury yields defied the soft print: the US 10Y rose +5bp as bond investors unwound an early move, while the German 10Y held flat. The dollar slipped -0.20%. Oil fell after G7 nations agreed to release diesel stocks and reports of a planned Saudi strike on Houthi targets, with WTI at 91.43 and Brent edging up to 102.74.
Key headlines
- Oil prices lower as G7 nations to release diesel stocks, Saudis reportedly plan attack on Houthis
- 10-year Treasury yield ticks higher despite weaker-than-expected jobs report
- G7 nations to release diesel stocks as wars in Europe and Middle East constrain fuel supplies
- Why bond investors quickly lost their enthusiasm for weak jobs figures
The takeaway
The jobs report produced a split reaction: equities rallied on the dovish Fed read, but Treasury yields rose as the US 10Y moved up +5bp. Bond investors quickly lost their enthusiasm for the weak figures, suggesting the market now sees slower hiring as consistent with a Fed on hold rather than one preparing to cut.
Attention turns to the next round of inflation and labor data to confirm whether September's hiring slowdown marks a durable trend. Markets head into the weekend watching developments in the Middle East after reports of a planned Saudi strike on Houthi targets, and tracking the G7 diesel release for its effect on fuel supplies.
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Frequently asked questions: October 2, 2026
What happened in the markets today?
US stocks closed higher after a weak September jobs report cemented expectations the Fed will hold rates. The S&P 500 rose +0.73% and the Nasdaq added +1.19%, while Oil fell as G7 nations moved to release diesel stocks.
Did the stock market go up or down today?
Stocks rose. The S&P 500 gained +0.73% to close at 7,723 and the Nasdaq advanced +1.19% to 27,191.
Why did markets move today?
A weaker-than-expected September payrolls report, showing slower hiring and a higher unemployment rate, left traders seeing little chance of a Fed rate hike in October, lifting equities and lowering the VIX by -6.59%.
How did the S&P 500 do today?
The S&P 500 rose +0.73% to finish at 7,723, supported by the dovish read on the jobs report, falling volatility and a softer dollar.
What did the dollar and Treasury yields do today?
The dollar slipped, with the DXY down -0.20%. The US 10-year Treasury yield rose +5bp despite the weak jobs report, while the German 10-year held flat.
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