Jobs report ahead as oil falls and futures rise
By Juliegrace Brufke | Quincy News Correspondent
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Washington (Quincy News) — Market Recap
U.S. stocks eked out gains Thursday after Treasury yields retreated from their highest levels in more than two decades. The Dow rose 0.04% to 50,926.56, the S&P 500 gained 0.19% to 7,666.45 and the Nasdaq Composite added 0.04% to 26,871.60. All three major indexes remain on pace for weekly losses.
The 10-year Treasury yield climbed as high as 5.342%, its highest level since 2002, before falling back toward 5.24% as buyers returned to the bond market and several Federal Reserve officials signaled patience on another rate hike. Oil moved sharply higher Thursday, with Brent crude settling at $102.31 a barrel and West Texas Intermediate at $92.87 amid renewed concerns about Middle East supply disruptions.
Today’s Focus
Friday is jobs day. The Labor Department releases its September employment report at 8:30 a.m. ET. The Dow Jones consensus calls for about 84,000 new jobs, down from 162,000 in August, with the unemployment rate holding at 4.1%. The report will be closely watched for signs that the labor market is strengthening or weakening as the Fed considers its next move on interest rates.
Markets were pointing higher ahead of the report, with S&P 500 and Dow futures up about 0.5% and Nasdaq-100 futures up roughly 0.8% in early trading. The 10-year Treasury yield was near 5.24%. Markets are now pricing in roughly a three-in-four chance that the Fed leaves rates unchanged at its October meeting.
Oil also reversed sharply overnight. Brent fell below $100 a barrel and WTI dropped toward $89.50 as European Union countries discussed a French proposal for additional releases of diesel reserves, along with a potential coordinated release of crude stocks by International Energy Agency members.
ON THE SCHEDULE FOR FRIDAY, OCTOBER 2, 2026
– 8:30 a.m. ET – September employment report: nonfarm payrolls, unemployment and average hourly earnings
– 10:00 a.m. ET – August factory orders
– 10:00 a.m. ET – Dallas Fed President Lorie Logan gives welcoming remarks at a Dallas Fed workshop on the macroeconomic implications of migration
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