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On Friday, the major indices in the U.S. finished higher, with equities gaining as weaker-than-expected labour market data reinforced expectations that the Federal Reserve may have greater scope to ease monetary policy in the months ahead.
The S&P 500 advanced 56pts (+0.73%) to 7,722.
The Nasdaq 100 gained 306pts (+1%) to 30,807.
The Dow rose 250pts (+0.49%) to 51,176.
On the sector front, Consumer Discretionary (XLY), Technology (XLK), and Industrials (XLI) outperformed, while Health Care (XLV), Financials (XLF), and Energy (XLE) underperformed the most.
Looking at the latest U.S. economic data, labour market data came in weaker than expected in September, with nonfarm payrolls rising by just 29,000, well below the 90,000 forecast. The prior month was revised down to 133,000 from 162,000. Meanwhile, the unemployment rate edged up to 4.2%, above the 4.1% expected and 4.1% previously. U.S. factory orders rose 0.1% month-on-month in August, in line with expectations, slowing from a revised 0.9% increase in July.
U.S. Equity News:
Teradyne (TER), a semiconductor test-equipment company, jumped 8% amid strong AI-driven demand for its HBM, DRAM and NAND memory-testing solutions.
Seagate Technology (STX), a hard-drive manufacturer, tumbled 10% after a report that Toshiba plans to double production capacity for AI data-center hard drives in fiscal 2027, raising concerns about increased supply and pricing pressure.
EchoStar (ECHO), a satellite communications company, jumped 6.8% after its DISH DBS subsidiary amended several secured and unsecured note agreements following its emergence from bankruptcy.
Nike (NKE), a sportswear and athletic footwear company, fell 3.64% after issuing a weaker-than-expected full-year outlook, forecasting earnings below estimates and a steeper revenue decline.
Tesla (TSLA), an electric vehicle and clean-energy company, jumped 4.65% after third-quarter vehicle deliveries topped Wall Street expectations.
Volatility & Commodities Snapshot:
The VIX index fell 1.08pt (-6.59%) to 15.31.
The U.S. 10-year Treasury yield rose approximately 4 basis points to 5.28%.
In the commodities market, gold fell 38.42 dollars (-0.92%) to 4,139.34.
Silver declined 0.45 dollars (-0.74%) to 60.40.
WTI crude oil slipped 1.37 dollars (-1.48%) to 91.50.
Europe Market Overview:
At the European close, the major indices in the region finished in positive territory.
Germany's DAX gained 291pts (+1.17%) to 25,231.
France's CAC 40 rose 61pts (+0.79%) to 7,897.
The U.K.'s FTSE 100 advanced 33pts (+0.32%) to 10,461.
On the economic data front, eurozone inflation accelerated to 3.8% year-on-year in a preliminary September reading, above the 3.6% expected and up from 3.2% in August.
Foreign Exchange & Crypto Wrap:
The dollar index fell 0.19pt (-0.18%) to 101.914.
EUR/USD rose 10pips (+0.09%) to 1.1251.
GBP/USD advanced 39pips (+0.3%) to 1.3238.
USD/JPY fell 22pips (-0.14%) to 157.85.
USD/CHF slipped 23pips (-0.28%) to 0.8284.
AUD/USD rose 25pips (+0.36%) to 0.6954.
In the cryptocurrency market, Bitcoin fell 202 dollars (-0.24%) to 84,414, while Ethereum dropped 29 dollars (-1.08%) to 2,668.
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