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US Markets Surge on Job Data, Easing Crude; Nasdaq Hits Record High.
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CNBC Awaaz•03-10-2026, 08:28
US Markets Surge on Job Data, Easing Crude; Nasdaq Hits Record High.
- •Weak employment data fueled investor hopes that the US Federal Reserve would not change interest rates in October.
- •Technology stocks saw renewed buying, with Nvidia, CrowdStrike, Palo Alto Networks, and AMD shares reaching record highs.
- •Dow Jones closed up 250 points, S&P 500 rose 0.7%, and Nasdaq Composite gained 1.2%.
- •Easing crude oil prices also supported the market, as European countries consider releasing oil from strategic reserves.
- •Despite Friday's rally, Dow Jones and S&P 500 faced weekly pressure, while Nasdaq ended the week with a 0.6% gain.
Key Questions Answered
US markets rallied due to weaker-than-expected employment data and easing crude oil prices, which fueled investor hopes that the Federal Reserve would keep interest rates stable at its October meeting alongside renewed buying in technology stocks.
The September employment report showed that the US economy added only 29,000 new jobs with the unemployment rate rising to 4.2%, falling short of market estimates which anticipated roughly 84,000 new jobs and a 4.1% unemployment rate.
Oil prices experienced downward pressure and declined as European countries considered releasing oil from strategic fuel reserves following pressure from the United States.
