WS #15273
Wall Street rallied sharply on Friday as a disappointing US jobs report (29,000 new jobs) pushed October rate hike probabilities down to 20%, signaling a pivot toward a more dovish Federal Reserve. The Nasdaq 100 climbed to 27,300 and the Dow gained 385 points, reflecting relief that the labor market is cooling without collapsing. This macro shift is the primary driver of the day's market breadth, overriding geopolitical risks and supporting growth and tech valuations.
Macro Pivot and Rate Hike Expectations
Wall Street rallied sharply on Friday as a disappointing US jobs report (29,000 new jobs) pushed October rate hike probabilities down to 20%, signaling a pivot toward a more dovish Federal Reserve. The Nasdaq 100 climbed to 27,300 and the Dow gained 385 points, reflecting relief that the labor market is cooling without collapsing. This macro shift is the primary driver of the day's market breadth, overriding geopolitical risks and supporting growth and tech valuations.