On Friday, the three major indexes closed higher.

Data released Friday by the US Bureau of Labor Statistics showed that new jobs in September suddenly dropped to 29,000, while the August figure was revised down to 133,000, and July payrolls were further revised lower by 31,000 to a decline of 10,000, turning negative. The unemployment rate was 4.1% in August and rose to 4.2% in September.

Chicago Fed President Austan Goolsbee said the latest employment data shows the US labor market remains stable, and that inflation being too high remains the more important policy focus for the Fed at present. On whether the Fed should continue raising rates or pause this month, Goolsbee said "there are strong arguments on all sides," and added he wants to see more evidence that inflation is falling back toward the 2% target.

US Stocks

At the close, the Dow Jones Industrial Average rose 250.88 points, or 0.49%, to 51,177.44; the S&P 500 rose 56.32 points, or 0.73%, to 7,722.77; the Nasdaq Composite rose 319.27 points, or 1.19%, to 27,190.86.

SpaceX (SPCX.US) rose 7.35%, Tesla (TSLA.US) rose 4.65%, Dell (DELL.US) rose 3.8%, Broadcom (AVGO.US) rose 3.35%, ASML (ASML.US) rose 3.25%, and Nvidia (NVDA.US) rose 1.34%; Accenture (ACN.US) fell 6.27%, and SanDisk fell 3.79%.

The Nasdaq Golden Dragon China Index fell 2.09%, Alibaba (BABA.US) fell 1.47%, and Baidu (BIDU.US) fell 1.48%.

European Stocks

Germany's DAX 30 rose 301.79 points, or 1.21%, to 25,241.14; the UK's FTSE 100 rose 31.68 points, or 0.30%, to 10,459.95; France's CAC 40 rose 61.88 points, or 0.79%, to 7,897.19; the Euro Stoxx 50 rose 64.30 points, or 1.04%, to 6,239.75; Spain's IBEX 35 rose 76.03 points, or 0.40%, to 19,081.33; Italy's FTSE MIB rose 252.64 points, or 0.50%, to 50,490.50.

Asia-Pacific Stocks

Japan's Nikkei 225 fell 0.94%, South Korea's KOSPI rose 0.46%, and Indonesia's Composite Index rose 0.46%.

Forex

The US Dollar Index, which measures the greenback against six major currencies, fell 0.17% on the day to close at 101.933 in late foreign exchange trading. At the close of New York trading, 1 euro fetched 1.1252 dollars, up from 1.1235 the previous session; 1 pound fetched 1.3239 dollars, up from 1.3190 the previous session. 1 dollar fetched 157.80 yen, down from 158.11 the previous session; 1 dollar fetched 0.8287 Swiss francs, down from 0.8317 the previous session; 1 dollar fetched 1.4259 Canadian dollars, up from 1.4236 the previous session; 1 dollar fetched 10.0366 Swedish kronor, down from 10.0597 the previous session.

Cryptocurrencies

Bitcoin briefly broke above 87,000 dollars, and as of publication had erased all gains to turn lower, trading at 84,494 dollars; Ethereum fell more than 1.4% to 2,665 dollars.

Precious Metals

Spot gold fell 0.89% to 4,139.78 dollars an ounce; spot silver fell 0.94% to 60.41 dollars an ounce.

Crude Oil

Light crude for November delivery on the New York Mercantile Exchange fell 1.76 dollars to settle at 91.11 dollars a barrel, a drop of 1.9%; London Brent crude for December delivery fell 6 cents to settle at 102.25 dollars a barrel, a drop of 0.06%.

Macro News

The US Department of Justice will not reopen a criminal investigation into Powell. US Attorney General Todd Blanche said the Department of Justice will not restart a criminal investigation into former Fed Chair Powell. The Fed's inspector general released an investigation report this week that found no criminal conduct by Powell regarding the rise in costs of the Fed headquarters renovation project to 2.4 billion dollars. Blanche said he was satisfied with the report but believed Powell did not properly oversee the project. The Fed has said it will hire an independent auditor to further review the renovation costs, and Blanche said the Department of Justice could still open an investigation if a subsequent audit finds evidence of any criminal conduct.

US September nonfarm payrolls rose only 29,000 as employers turned cautious on hiring amid rising costs. US job growth in September was weaker than expected and the unemployment rate rose slightly, indicating employers are cautious about hiring amid rising costs. Data released Friday by the Bureau of Labor Statistics showed that after revisions to the prior two months, nonfarm payrolls rose by 29,000 last month. That was below economists' estimates in a survey. The unemployment rate rose to 4.2%, partly reflecting an expansion of the labor force. The slowdown in job growth was mainly driven by declines in government, information, professional and business services, and financial activities employment. Health care, construction, and manufacturing added jobs. Strong consumer spending and robust business investment supported hiring, but many cost-conscious employers were unwilling to expand headcount. Still, layoffs remained low. With the unemployment rate still near historic lows, Fed officials can keep their focus on inflation as they consider when to raise rates again.

Trump: No diesel export ban; Europe will increase diesel supply. President Trump said he has asked Europe to release more diesel supply to help ease fuel price pressure, and said the US will not impose a diesel export ban. Trump said: "I made that request. Europe has a lot of diesel, and they will make a major contribution to the world, and we will do the same." He said that as the Iran conflict ends, oil supply will increase and oil prices will soon fall back to pre-conflict levels, and may even be lower than at the start of his term. Asked whether he ruled out imposing diesel export restrictions on Europe, Trump said the US has good relations with Europe and Europe is willing to participate because it has large diesel reserves.

CME suspends launch of 10-barrel crude oil futures contract. CME Group announced it is suspending the launch of a 10-barrel crude oil futures contract that was originally intended to support 24-hour, round-the-clock trading. CME Chairman and CEO Terry Duffy said the product was originally designed to provide a US-regulated alternative to existing 24/7 crude oil contracts in the market, but after communicating with industry participants, some important market participants worried that introducing round-the-clock energy futures trading without further assessment could produce unintended consequences and increase market risk, so CME decided to withdraw the relevant application. CME also called on the US Commodity Futures Trading Commission (CFTC) to address regulatory differences between different trading venues and ensure derivatives comply with the Commodity Exchange Act.

Company News

Hit by higher memory chip costs, Google raises Pixel 10a price by 100 dollars. Google (GOOG.US, GOOGL.US) raised the price of its budget Pixel 10a phone by 100 dollars to 599 dollars just seven months after launch, reflecting how a persistent memory chip shortage is pushing up consumer electronics costs and even affecting older devices. This week Samsung also raised prices for most Galaxy S26 models by 100 dollars, and Apple (AAPL.US) priced the iPhone 18 Pro and Pro Max launched last month higher than the previous generation and raised prices for some older models. When Google launched the Pixel 11 series in August this year, prices for each model also generally rose by 100 dollars versus the previous generation, though the increase was partly offset by higher base storage capacity.

Tesla quarterly deliveries beat expectations. Tesla (TSLA.US) reported third-quarter deliveries on Friday that exceeded Wall Street expectations, helped by a recovery in Europe this year after weak sales last year. Tesla delivered 486,532 vehicles in the third quarter, above the analysts' average estimate of 456,896. The figures suggest Tesla's core auto business may be stabilizing after two consecutive years of annual sales declines. Tesla needs to deliver at least 311,448 vehicles in the fourth quarter to avoid a third straight annual delivery decline. Analysts expect Tesla's gradual rollout of Full Self-Driving (FSD) software in Europe to further boost sales. FSD is currently approved for use in eight countries.

Bank Ratings

UBS: cut Nike (NKE.US) price target to 34 dollars from 42 dollars; cut Pepsi (PEP.US) price target to 145 dollars from 159 dollars.