U.S. jobs report shows 29,000 hires, easing inflation worries and boosting stocks
The Labor Department reported that employers added 29,000 jobs in September, well below expectations and down from August’s 133,000. The softer hiring data lowered the market’s odds of an October Fed rate hike, sending the 10‑year Treasury yield to about 5.20% and lifting the S&P 500, Dow and Nasdaq toward record levels. Nvidia and Tesla posted gains, while Nike’s shares fell after a mixed earnings report.
Why it matters
Analysts note that the reduced hiring pace eases inflation concerns, which helped bond yields fall and supported equity valuations. The move also lowered expectations for a near‑term Fed rate increase, which can influence borrowing costs and investor risk appetite.
Key facts
- 1Employers added 29,000 jobs in September, below expectations and down from August’s 133,000 hires. readingeagle.com
- 2The 10‑year Treasury yield fell to 5.20% after the jobs report. readingeagle.com
- 3Tesla reported deliveries of 486,532 vehicles in the latest quarter. readingeagle.com
- 4Nvidia’s stock rose 2.8%, providing the strongest lift to the S&P 500. readingeagle.com
- 5Nike’s shares dropped 6% after reporting a profit beat but weaker revenue and outlook. readingeagle.com
- 6Brent crude fell 1.9% to $100.41 per barrel. dailynews.com
Open questions
- S&P 500 gain reported as 0.9% (material 1) and 0.7% (materials 2 and 4).
- Dow Jones gain reported as 220 points (material 1), 164 points (material 2), and 250 points (material 4).
- Nasdaq gain reported as 1.4% (material 1), 1.2% (materials 2 and 4).
- 10‑year Treasury yield reported as 5.20% (material 1), briefly below 5.17% then 5.25% (material 2), and 5.28% (material 4).
- Nike’s decline reported as 6% (material 1), 5.8% (material 2), and 3.6% (material 4).
- Tesla’s rally reported as 4.2% (material 1), 5.5% (material 2), and 4.7% (material 4).
Summary written by AlphAI from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.