Stock Futures Rally as U.S. Job Gains Miss Forecast; Markets Price 83% Chance Fed Holds in October
AI Market Summary
A sharply weaker US payrolls report (29k vs 84k expected; unemployment 4.2%) drove markets to price an 83% chance of the Fed holding rates in October, pulling Treasury yields down across the curve and lifting US equity futures. The dollar softened, supporting non-yielding assets including gold, while oil fell on supply-recovery signs despite lingering geopolitical risk.
Impact level
● High
Affected assets
NCSISP5002USD/USDT+0.07%
AI Insight · NCSISP5002USD/USDTAI Insight
▲ Bullish
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A weaker-than-expected U.S. jobs report pushed the unemployment rate up to 4.2% and led markets to sharply increase bets that the Federal Reserve will pause rate hikes. Traders are now pricing an 83% probability the Fed holds rates in October. U.S. equity futures rose about 1%, led by Nasdaq futures up 1.4%, while Treasury yields fell across the curve with the 2-year yield down 7.1 basis points. Oil prices also eased, with Brent trading around $99.50 a barrel.
