# Nasdaq nears record high

> Weak US jobs data cools Fed rate hike bets.
- Title: Nasdaq nears record high · Financialexpress | Shortify
- Summary: Weak US jobs data cools Fed rate hike bets. Nasdaq approaches record high as weak US jobs data reduces expectations of a Federal Reserve rate hike in October.
- Keywords: nasdaq, us jobs data, federal reserve, rate hike, technology stocks, semiconductor stocks, treasury yields, oil prices, brent crude, s&p 500, dow jones, nasdaq composite
- Source: Financialexpress — https://financialexpress.com/market/global-markets/nasdaq-nears-record-high-weak-us-jobs-data-cools-rate-hike-bets/4352677
- Author: Anjana PV
- Published: 2026-10-02T16:28:39+00:00
- Read time: 1 min
- Topics: nasdaq, us jobs data, federal reserve, rate hike, technology stocks, semiconductor stocks, treasury yields, oil prices, brent crude, s&p 500, dow jones, nasdaq composite
## US stocks rise
US stocks rose on Friday as weaker-than-expected jobs data reduced expectations of a Federal Reserve interest rate hike later this month.
## Nasdaq nears record high
The Nasdaq Composite rose 312.35 points, or 1.16%, to 27,183.95, on course to set a record high.
## Jobs growth falls short
Employers added 29,000 jobs last month, with August hiring revised down to 133,000 from 153,000.
## Rate hike expectations fall
Traders reduced their probability of a 25 basis point October rate hike from 26% to 20% after the jobs report.
## Technology stocks lead gains
Semiconductor stocks and large technology companies gained significantly, with Nvidia touching an intraday record high.
## Oil prices drop
Brent crude slipped below $100 a barrel after EU discussions on additional diesel and crude stock releases.
## Market sentiment improves
The Cboe Volatility Index fell to 15.67, its lowest level in a week, indicating reduced market fear.
## Global markets react
European markets recovered from previous losses, while Asian markets were mixed with Hong Kong’s Hang Seng falling 2.6%.
## Key takeaway

Nasdaq approaches record high as weak US jobs data reduces expectations of a Federal Reserve rate hike in October.