Macro EconomyMedium•2 October 2026•
1 min read
Nasdaq Rallies as Weaker September US Jobs Data Eases Rate Fears
Key Facts
1The September jobs report came in weaker than expected, easing fears of further interest rate increases.
2The Nasdaq index rallied significantly in response to the underwhelming economic data.
The September jobs report came in weaker than expected, easing fears of further interest rate increases. The Wall Street Journal reported that the Nasdaq index rallied significantly in response to the underwhelming economic data, as investors bet that the Federal Reserve will pause or slow its rate hike cycle.
NDAQ closed at $91.67 on October 1, 2026, after reaching a session high of $92.83. The soft labor market data suggests a cooling economy, reducing the necessity for restrictive monetary policy and benefiting growth-oriented technology stocks.