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Fed rate hike bets ease after weak jobs data; Nasdaq hits intraday record high

Oct 2, 2026, 3:43 PM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Data showing softer payrolls reduced the probability of an imminent rate hike, fueling a risk-on rally in equities and a lift to high-growth tech names. Historically, such shifts can widen valuation multiples and push indices higher in the short run before any new data reconvenes policy expectations.

AI summary

What happened, with direct paths to the underlying reporting

Weaker-than-expected payroll data diminished near-term Federal Reserve tightening expectations, helping U.S. stocks advance and Nasdaq lead with an intraday record. The data shift supports a more favorable risk environment for equities and may sustain tech leadership in the near term as investors reassess rate trajectories.

US stocks rose; Nasdaq hit intraday record as Fed rate hike bets cooled.
Weaker-than-expected jobs data dampened near-term rate-hike expectations.
Nasdaq touched intraday record highs, lifting sentiment across indices.
Market expects slower pace of policy tightening, supporting equities.

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