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      US Stocks Rise as Employment Growth Slows

      US stocks opened higher on October 2, 2026, following a report indicating slower job gains for September, which has alleviated some pressure on the Federal Reserve to raise interest rates. Payrolls increased by just 29,000, with previous months' figures for July and August revised down by a total of 60,000, signaling a decline in hiring momentum. Average hourly earnings rose only 0.1%, resulting in an annual wage growth of 3.0%, which suggests reduced inflationary pressure from wages.

      The major US stock indices responded positively, with the NASDAQ index rising by 1.17% to reach a high of 27,247.97, although it remains below its recent peak of 27,288.79 recorded on September 22. The NASDAQ 100 index also saw an increase of 1.10%, trading at 30,856, close to its prior all-time high of 30,770.63. The S&P index gained 0.92%, reaching 7,737.79, still short of its all-time high of 7,816.70 set in August.

      Lower Treasury yields have contributed to the stock market's positive performance, as they reduce the discount rate used to value future corporate earnings, thereby supporting stock valuations, particularly in the technology and growth sectors. As of the latest data, the 2-year yield stood at 4.7517%, the 5-year yield at 4.9623%, the 10-year yield at 5.1989%, and the 30-year yield at 5.5795%, all reflecting declines from earlier levels.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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