Stocks rise as soft jobs report cools Fed hike bets
U.S. stocks advanced Friday after September payrolls rose only 29,000, cooling fears of a too-hot labor market. The S&P 500 gained 0.7% to 7,722.72, the Dow 0.5% to 51,176.96, and the Nasdaq 1.2% to 27,190.86, the Associated Press reported. Traders cut the odds of an October Fed hike to under 23%. Brent crude settled near $102.25.
AI-assisted · US Brief desk · Sources listed below
What happened
The S&P 500 climbed 0.7% to 7,722.72, the Dow Jones Industrial Average added 0.5% to 51,176.96, and the Nasdaq Composite jumped 1.2% to 27,190.86, the Associated Press reported. Employers added 29,000 jobs in September, well below forecasts near 90,000, after a downwardly revised 133,000 in August.
Why it matters
Lower hike odds calmed a bond market that had pushed long-term yields to multi-decade highs earlier in the week. Equity gains also leaned on AI-linked names that benefit when yields ease.
What’s next
Next inflation readings and the Fed’s late-October meeting. Watch whether oil stays softer after the G7 reserve plan.
More context
U.S. stocks rose Friday after a softer-than-expected jobs report eased worries that a hot labor market would force another near-term Federal Reserve rate hike.
Fed bets and yields: CME Group data cited by AP showed traders pricing less than a 23% chance of an October hike, down from about 64% a week earlier. The 10-year Treasury yield briefly fell below 5.17%, then finished near 5.28% as oil pared losses. Vanguard senior economist Adam Schickling said the report “strengthens the case for the Federal Reserve to remain patient.”
Oil and movers: Brent crude settled at $102.25 a barrel, down 0.1%, after swinging between about $98 and $103 amid Iran-war supply uncertainty, AP said. AFP reported U.S. crude near $91.11, down about 2%, after the G7 oil-reserve release news. Tesla rose 4.7% on stronger deliveries. Nvidia gained 1.3%. Nike fell 3.6% after a soft revenue outlook.
4 listed sources
- Associated Press via Minot Daily News, Oct 3, 2026: Stocks rise after jobs report eases inflation worries
- AFP via BSS News, Oct 3, 2026: US jobs data boosts stocks as oil prices dip
- Related US Brief: U.S. added 29,000 jobs in September; unemployment ticks up to 4.2%; G7 agrees to release 100 million barrels of oil, starting with diesel.
- Sourcing note: Index closes and Fed-odds figures from AP; WTI close from AFP wrap.
References listed by US Brief; a source count is not a verification score.
Editorial sourcing notes
Associated Press via Minot Daily News, Oct 3, 2026: S&P 7,722.72 (+56.27 / +0.7%); Dow 51,176.96 (+250.40 / +0.5%); Nasdaq 27,190.86 (+319.27 / +1.2%); payrolls +29,000 vs expectations; unemployment context from companion jobs story 4.2%; CME Oct hike odds <23% from 64% a week earlier; 10-year briefly below 5.17% then ~5.28%; Brent settled $102.25 (−0.1%), ranged $98–$103; Tesla +4.7% on deliveries; Nvidia +1.3%; Nike −3.6%. AFP/BSS companion: WTI ~$91.11 (−~2%); G7 reserve release backdrop. Vanguard economist Adam Schickling quote on patience. Complements U.S. added 29,000 jobs in September; unemployment ticks up to 4.2%.
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