Jobs Report

Bar chart showing weekly percentage change for DAX (-0.7%), Dow (-1.3%), and NASD (+0.5%) for the week ending Friday, October 2

Week ahead: a record intraday high, and a jobs report that cooled the Fed

Friday’s jobs report did what the Fed had been worrying about it wouldn’t. Employers added just 29,000 jobs in September, far below the roughly 84,000 to 90,000 economists had expected, and unemployment ticked up to 4.2%. That cooled the bets on another rise in interest rates, and NASD rallied hard into the close, touching a new all-time intraday high before settling just short of its record close. Dow and DAX both finished the week lower, though, and bond yields were still high enough to keep the mood cautious. ...

Bar chart showing weekly percentage change for DAX (+0.4%), Dow (+0.3%), and NASD (+2.1%) for the week ending Friday, September 25

Week ahead: NASD closes in on a fresh record

It was a choppier week than the closing numbers suggest. Bond yields surged again in the middle of the week, unsettling all three indices for a day or two, before oil prices eased and an AI-driven rally in chip and tech names pulled everything back up by Friday. NASD did more than recover: Meta, AMD, and Intel led it to a fresh all-time high close mid-week, and it finished Friday just a fraction of a percent below that record. Dow, meanwhile, snapped a three-week losing streak. ...

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