The Nasdaq Composite rose 1.2%, leading the market, while the S&P 500 gained 0.7% to 7,722 points and the Dow Jones Industrial Average rose 0.5% to 51,176 points. However, for the week as a whole, the S&P 500 fell 0.27%, the Dow Jones lost 1.26%, and the Nasdaq edged up 0.45%.
The main impetus came from the US September jobs report, which showed non- farm jobs added by only 29,000, much lower than the forecast of 90,000. The August figure was also revised down to 133,000. This development suggests a cooling labor market, thereby easing pressure on the Fed to continue raising interest rates.
Following the report, the market adjusted its monetary policy expectations, with the probability of the Fed keeping interest rates unchanged in October increasing to around 80%. However, the likelihood of a rate hike later in the year remains high, reflecting investors' cautious stance on the risk of prolonged inflation.
While the stock market benefited from the news, the bond market reacted in the opposite way. US Treasury yields fell immediately after the data was released but quickly rebounded during the session, as investors perceived the jobs report to be not weak enough to rule out the possibility of further tightening by the Fed in the coming months.
Ten-year Treasury yields rose to around 5.28%, extending their gains for the fifth consecutive week, amid strong selling pressure on bonds in global markets. This sell-off occurred as energy prices rose due to geopolitical tensions related to Iran , complicating inflation prospects and putting pressure on the fiscal situation of many countries.
In Europe, government bond yields fluctuated sharply, with the spread between 10-year German and French bonds widening to its highest level since the 2011 sovereign debt crisis, reflecting increased fiscal risk in the region.
In the commodities market, Brent crude oil prices edged higher to $102.77 per barrel, while gold fell more than 1% to around $4,135 per ounce.
In the current context, global financial markets are showing a clear divergence: equities are supported by expectations of more stable interest rates, while bonds continue to face pressure as investors adjust their expectations for inflation and long-term monetary policy.
Source: https://dttc.sggp.org.vn/chung-khoan-my-di-len-trai-phieu-toan-cau-bi-ban-thao-post138050.html
