Todays report bullish for the market
September jobs report is out — and it's weak:
- **Expected:** 90K new jobs, unemployment steady at 4.1%
- **Actual:** only **29K** new jobs, unemployment up to **4.2%**. July and August also got revised down 60K combined
- **What it means:** bad news for the economy, good news for stocks today — a weak labor market makes another Fed hike way less likely. S&P futures +0.8%, Nasdaq +1%, yields falling
This is the bullish setup for your morning: rate-hike fears unwinding. Watch whether the rally holds into the open or gets sold.
Choppy day, green finish. Here's how it played out:
**The close**
- S&P 500: **+0.2%** to 7,666
- Dow: **flat** at 50,927
- Nasdaq: **flat** at 26,872
**What drove it**
- All three were red until early afternoon, then flipped when the **10-year yield backed off its 24-year high** (5.34% → 5.23%) — its biggest daily drop in over a month
- Fed Vice Chair Jefferson said the Fed needs more time before any more hikes — October hike odds collapsed to **under 25%**, from 68% earlier this week
- **Oil surged**: Brent over $102 on Middle East escalation (third US carrier group sent in)
**Winners:** Accenture **+17%** on earnings, chip equipment (Applied Materials, Lam), software (Synopsys +10%). Micron beat but barely moved — priced in.
**For tomorrow:** September jobs report — expected ~84K jobs (down from 162K), unemployment steady at 4.1%. That's the decider for the week.
Market good positive ready
Get in the market buy it all
Here are today's numbers, nice and simple:
**PCE inflation (the Fed's favorite measure) — August data, released today**
Headline:
- Expected: **+0.4%** for the month
- Came out: **+0.3%** — cooler than expected ✓
- Year-over-year: **3.4%**
Core (excludes food & energy):
- Came out: **+0.2%** for the month
- Year-over-year: **3.0%**
**CPI — September**
- Expected: **3.1%** year-over-year
- Came out: **3.0%** — also slightly cooler ✓
Bottom line: inflation came in a touch softer than expected on both reports. That's usually good news for stocks and makes another Fed rate hike less likely — odds of a November hike dropped to around 38% after this.