# @benzinga on YouTube

- **Type:** Video
- **Original URL:** https://youtube.com/watch?v=tuHxL1LqX8c
- **Gondola URL:** https://gondola.cc/posts/71296054-benzinga-youtube
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/4dd5579ca4.jpg
- **Posted:** 2026-10-02T13:58:48.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

A sharp slowdown in U.S. hiring lifted stock futures on Oct. 2, as investors bet that a cooling labor market could keep the Federal Reserve from raising interest rates again this month.
Employers added only 29,000 nonfarm payrolls in September, the Bureau of Labor Statistics reported on Oct. 2, well under forecasts that ranged from roughly 84,000 to 90,000. The unemployment rate ticked up to 4.2% from 4.1%. The agency also lowered its July and August figures by a combined 60,000 jobs, so July now shows a loss of 10,000 positions and August's gain shrinks to 133,000 from 162,000.
Paychecks cooled too. Average hourly earnings for private-sector workers rose 0.1% in September to $37.81 and were up 3% over 12 months, both short of the 0.3% and 3.2% gains economists had penciled in. Payroll growth has averaged just 45,000 a month over the past year. Health care, construction and manufacturing added modestly, while financial activities lost 7,000 jobs.
Markets took the soft numbers as a relief. Around 9:05 a.m. ET on Oct. 2, the SPDR S&P 500 ETF was up about 1% in premarket trading, the Invesco QQQ Trust gained nearly 1.5% and the small-cap iShares Russell 2000 ETF climbed about 1.6%. The 10-year Treasury yield eased to roughly 5.17% from 5.24% a day after hitting its highest level in about 24 years, and homebuilder and gold funds also moved higher.
The rate outlook is the key for investors. Before the release, fed funds futures implied only about a 23% chance of a quarter-point hike at the Oct. 27-28 policy meeting, down from more than 60% a week earlier. A weak jobs print could strengthen the case for holding steady, though inflation remains above the Fed's 2% goal and policymakers may still want more data before signaling a shift.
Not every stock joined the rally. Nike slid about 8% before the bell after projecting a bigger fiscal-year sales drop than analysts expected, while Nvidia rose roughly 2%. The October jobs report is scheduled for Nov. 6.
#JobsReport #StockMarket #FederalReserve

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- **Likes:** 5
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## Tags

federalreserve, stockmarket, jobsreport

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