Bullish
S&P 500 rises 0.7% to 7,722.72 as weak jobs data eases rate hike concerns.
The S&P 500 gained 0.7% to close at 7,722.72 on October 2, 2026, following a weaker-than-expected September jobs report. The report showed only 29,000 new jobs added, significantly below the forecasted 93,000, leading to reduced expectations for a Federal Reserve rate hike this month. This development alleviated concerns over rising interest rates, contributing to the market's positive performance.
Key points
- Weak jobs data reduces rate hike expectations, boosting investor confidence.
- Treasury yields remain elevated, with the 10-year yield at 5.23%.
- Oil prices stabilize as G7 plans emergency crude release.
Sources
AI-generated from public news sources. Not financial advice.
