Hiring Slows, Services Data and Fed Minutes Ahead
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: U.S. stocks rallied Friday after a weaker-than-expected September jobs report reduced expectations for another Federal Reserve rate increase this month. Employers added 29,000 jobs, while the unemployment rate edged up to 4.2% from 4.1%.
The S&P 500 gained 0.7%, the Nasdaq rose 1.2% and the Dow added 0.5%. Despite an initial drop after the jobs report, Treasury yields climbed back later in the session, with the 10-year finishing at 5.28% and the 30-year at 5.63%.
Oil remains a major source of uncertainty heading into the week. Brent settled Friday at $102.25 a barrel, while U.S. crude closed at $91.11. OPEC+ on Sunday agreed to keep its November production targets unchanged. Oil briefly jumped Sunday evening after Yemen’s Iran-backed Houthis said they launched missiles and drones at Saudi Aramco sites, a claim Saudi Arabia has not confirmed. Brent topped $103 in early Asian trading, but the gains faded as Middle East exports rose and G7 nations pledged to release emergency stocks.
Today’s Focus: Final September S&P Global U.S. services and composite indexes arrive at 9:45 a.m. ET, followed by the ISM services index at 10 a.m. The employment and prices components will provide updated readings on hiring and inflation pressures across the services sector.
The bigger question for markets is now whether the Fed will pause after its September rate increase. The central bank raised its benchmark rate by a quarter point last month to 3.75% to 4.00%, but the combination of softer inflation and weaker hiring has lowered expectations for another move at the October 27-28 meeting. Investors will get a closer look at the Fed’s thinking Wednesday, when minutes from the September meeting are released.
ON THE SCHEDULE FOR THE WEEK OF MONDAY, OCTOBER 5, 2026
-9:45 a.m. ET – Final September S&P Global U.S. services and composite PMIs
-10 a.m. ET – September ISM services index
-Tuesday, 10:45 a.m. ET – Fed Vice Chair for Supervision Michelle Bowman speaks on regulation and supervision
-Tuesday, 1:40 p.m. ET – Treasury buyback covering 2- to 3-year securities
-Tuesday, 7 p.m. ET – Dallas Fed President Lorie Logan joins a discussion on policy and the economy
-Wednesday, 10:30 a.m. ET – EIA weekly petroleum report
-Wednesday, 1 p.m. ET – Treasury 10-year note reopening
-Wednesday, 2 p.m. ET – Minutes from the Fed’s September 15-16 meeting
-Wednesday, 3 p.m. ET – August consumer credit
-Thursday, 8:30 a.m. ET – Weekly jobless claims
-Thursday, 1:40 p.m. ET – Treasury buyback covering 20- to 30-year securities
-Friday, 10 a.m. ET – Preliminary October University of Michigan consumer-sentiment index
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