Jobs report and AI chip makers boost market week
U.S. non‑farm payrolls added 29,000 jobs in September and unemployment rose to 4.2%, below expectations. The Dow lost 1.26% for the week while the Nasdaq gained 0.45%, led by AI‑related stocks. Nvidia authorized an additional $150 billion of share repurchases, raising its total authorization to $235 billion. Micron posted $54.23 billion of revenue and forecast FY2027 first‑quarter revenue of $61.5 billion.
Why it matters
The expanded Nvidia buyback gives the company more flexibility to return cash to shareholders, which could support its stock price, according to the company announcement. Micron’s strong revenue and upbeat FY2027 guidance may influence analyst expectations, though the shares slipped as investors worried about future capacity spending, as noted in the earnings release.
Key facts
- 1September non‑farm payrolls added 29,000 jobs and unemployment rose to 4.2%. cnbc.com
- 2The Dow posted a weekly loss of 1.26%. cnbc.com
- 3The Nasdaq gained 0.45% for the week. cnbc.com
- 4Nvidia authorized an additional $150 billion in share repurchases, lifting total authorization to $235 billion. cnbc.com
- 5Micron reported revenue of $54.23 billion, up 379% from a year earlier. cnbc.com
- 6Micron forecast FY2027 first‑quarter revenue of $61.5 billion. cnbc.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.