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Nasdaq Hits Record High as US Job Growth Undershoots Expectations
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CNBC TV18•03-10-2026, 09:11
Nasdaq Hits Record High as US Job Growth Undershoots Expectations
- •US markets closed higher on Friday, with the S&P 500 advancing 0.7% and the Nasdaq 100 reaching a new high.
- •Equity valuations surged due to market expectations that the Federal Reserve will likely hold off on near-term interest rate hikes.
- •The S&P 500, Nasdaq 100, Dow Jones Industrial Average, and MSCI World Index all saw gains.
- •US nonfarm employment payrolls increased by only 29,000 positions in September, falling short of all Bloomberg economist survey projections.
- •The unemployment rate rose to 4.2%, and wage expansion moderated, indicating increased caution among employers.
Key Questions Answered
US markets closed higher with the Nasdaq 100 achieving a new record after a US employment report showed job growth undershooting expectations, leading futures markets to price in a probability below 25% for a Federal Reserve rate increase in October.
Nonfarm employment payrolls expanded by 29,000 positions in September following downward adjustments to the preceding two months, falling short of all projections in a Bloomberg economist survey.
Market sentiment was bolstered by a reduction in petroleum prices after the Group of Seven economies announced their intention to release strategic reserves of diesel and crude oil.
