Update: Nasdaq Extends Weekly Winning Streak Amid Fed Pause Bets

04:52 PM EDT, 10/02/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) The Nasdaq Composite rose Friday, securing its third weekly gain in a row, as weak jobs data signaled that the Federal Reserve could hold interest rates steady later this month. The index climbed 1.2% to 27,190.86. The S&P 500 added 0.7% to 7,722.72, while the Dow Jones Industrial Average advanced 0.5% to 51,176.96. Except healthcare, all sectors ended in the green, led by consumer discretionary. This week, the Nasdaq gained 0.5%, while the Dow and the S&P 500 logged weekly losses of 1.3% and 0.3%. Total nonfarm payrolls rose by 29,000 last month, the Bureau of Labor Statistics said Friday. That's just about a third of the 90,000 increase projected in a Bloomberg-compiled survey. The increase in August was adjusted downward by 29,000 to 133,000, while July's tally turned negative. "For the Fed, this number should be the nail in the coffin for an October hike," Jefferies Chief US Economist Thomas Simons said in a note e-mailed to MT Newswires. "We had been expecting that they would continue with successive 25 (basis-point) moves, but it now looks more likely that the policymakers emphasizing that they have some more time before another hike is needed will remain patient." Last month, the Federal Open Market Committee raised interest rates by 25 basis points, its first hike in just over three years, to combat inflation running persistently above its 2% target. The central bank's so-called "dot plot" signaled that a further rate increase could happen later this year. Markets are now pricing in a 77% probability that the FOMC will leave its benchmark lending rate unchanged toward the end of this month, up from 36% a week ago, according to the CME FedWatch tool. The odds in favor of a second consecutive 25-basis-point hike eased to 23% from 64%. Treasury yields were higher. The two-year rate rose 5.2 basis points to 4.84% and the 10-year rate added 4.7 basis points to 5.28%. Crude prices were mixed in Friday late-afternoon trade after the Group of Seven countries outlined plans to release 100 million barrels of oil and diesel products over a four-month period, citing "unprecedented" market volatility amid disruptions caused by the US-Iran war. West Texas Intermediate crude fell 1.4% to $91.54 a barrel, while Brent rose 0.5% to $102.86. Both benchmarks were down for the week, with WTI on track for its third consecutive weekly decline. In company news, Tesla's (TSLA) shares jumped 4.7% after the electric vehicle maker reported third-quarter deliveries above Wall Street's expectations. Ford Motor (F) fell 1.4% as its third-quarter US vehicle sales declined year over year. Nvidia (NVDA) gained 1.3%, among the best performers on the Dow. Morgan Stanley reinstated the chipmaker as its top pick in semiconductors. Nike (NKE) fell 3.6%, the biggest decline on the Dow. The sportswear giant forecast a fiscal 2027 revenue decline and unveiled a plan to transform its operating model, as Truist Securities warned that persistent business pressures are pushing back the company's turnaround timeline. Spot gold dropped 0.8% to $4,145.06 per troy ounce, while silver shed 0.7% to $60.78 per ounce.