# Nasdaq Gains 319 Points as Rate-Hike Odds Drop

> Nasdaq jumps 319 points as rate-hike odds fall to 22.7% after weak jobs report.
- Title: Nasdaq Gains 319 Points as Rate-Hike Odds Drop · Kiplinger
- Summary: Nasdaq jumps 319 points as rate-hike odds fall to 22.7% after weak jobs report. Nasdaq rose 319 points to 27,190 after September jobs report disappointed…
- Keywords: nasdaq, fomc, treasury yields, jobs report, fed rate hike, stock market, nvidia, tesla, hpe, nike, Gains, 319
- Source: Kiplinger — https://kiplinger.com/investing/stocks/nasdaq-adds-319-points-as-rate-hike-odds-ebb-stock-market-today
- Published: 2026-10-02T20:08:39+00:00
- Read time: 1 min
- Topics: nasdaq, fomc, treasury yields, jobs report, fed rate hike, stock market, nvidia, tesla, hpe, nike
## Stocks surge after weak jobs report
Stocks surged on Friday after a cooler-than-expected September jobs report eased pressure on the Federal Open Market Committee (FOMC) to raise interest rates at its meeting later this month.
## September jobs report disappointed
The Bureau of Labor Statistics (BLS) said the U.S. added 29,000 new jobs last month, well below a consensus forecast of 93,000, and the unemployment rate unexpectedly ticked up to 4.2% from 4.1%.
## Treasury yields rise
The 2-year Treasury yield fell from 4.787% on Thursday to 4.693% right after the release of the nonfarm payrolls report, but it was already rising before the opening bell and ended the session up 5.0 basis points at 4.837%.
## Fed rate hike odds drop
According to CME FedWatch, price action in the federal funds futures market indicates a 22.7% probability the Fed hikes rate by 25 basis points at the October Fed meeting, down from 64.2% a week ago.
## Nvidia hits all-time high
Artificial intelligence revolutionary Nvidia (NVDA) hit a new all-time high, and its market cap climbed closer to $6 trillion, following the $150 billion stock buyback increase management announced on Monday.
## HPE gains on AI demand
Old-school Silicon Valley legacy outfit Hewlett-Packard Enterprise (HPE) was one of the best-performing S&P 500 stocks and also closed at an all-time high on Friday, with management forecasting solid revenue growth for its networking segment due to AI infrastructure demand.
## Nike revenue below forecast
Nike (NKE) was the worst-performing Dow Jones stock on Friday following management's report on fiscal 2027 first-quarter results, with revenue slightly below Wall Street's forecast and earnings in line with consensus estimates.
## Key takeaway

Nasdaq rose 319 points to 27,190 after September jobs report disappointed, lowering odds of a Fed rate hike to 22.7%.