Update: US Equity Indexes Mixed Following Blowout Jobs Report, Gains in Treasury Yields

02:15 PM EST, 11/06/2026 (MT Newswires) -- (Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.) US equity indexes were mixed after midday Friday as the Nasdaq Composite rebounded from correction territory after October nonfarm payrolls expanded more than twice the increase anticipated. The Nasdaq Composite jumped 1.1% to 24,570.1, the S&P 500 climbed 0.5% to 7,391.9, while the Dow Jones Industrial Average slipped 0.1% to 51,472.8 after midday Friday. Nasdaq's 5.5% slide on Thursday met the textbook definition of a correction, falling more than 10% from a recent high. Technology and communication services topped the gainers, while consumer staples and real estate led the decliners. The October employment report showed nonfarm payrolls rose by 165,000, above the 70,000 increase expected in a Bloomberg-compiled survey, while September payrolls were revised to a 60,000 increase and August payrolls were revised to a 186,000 gain, for a net upward revision of 84,000 jobs. The unemployment rate fell to 4.1% in October from 4.2% in September, compared with no change expected, while the labor force participation rate rose to 61.9% from 61.8%. Hourly earnings jumped 0.4%, above the 0.3% gain expected and the 0.3% increase in September. The University of Michigan's preliminary consumer sentiment index rose to 51.0 in November from 48.0 in October, versus expectations for no change in a survey compiled by Bloomberg. Michigan conducted survey interviews between Oct. 20 and Nov. 2, before the midterm elections on Nov. 3. Respondents saw one-year inflation expectations at 4.3%, down from 4.7% in October, while five-year inflation expectations fell to 3.4% from 3.5%. "About 57% (of survey respondents) spontaneously mentioned that their living standards have been eroded by high prices, the highest seen since May and up from 46% in February, just prior to the Iran conflict," Michigan said. The probability of the Federal Reserve raising the target range for fed funds by 25 basis points to 4% to 4.25% stood at 77% for December, compared with 67% a day ago. The remaining likelihood is that the Fed will hold policy for a second consecutive meeting. Most US Treasury yields rose, with the two-year up three basis points to 4.51%. The 10-year yield was little changed at 4.84%. Gold futures dropped 1% to $4,071.1, and silver futures declined 0.9% to $51.93. The front-month West Texas Intermediate crude oil contract fell 0.8% to $89.77 per barrel, and the global benchmark Brent declined 1.1% to $97.21 per barrel. Oil prices have dropped sharply in recent days, with weakness accelerating immediately following the US midterm elections, according to a Macquarie note. "The move appears to reflect the risk of a significant (and lasting) deterioration to Middle East flows is now being priced out." In company news, Axon Enterprise (AXON) reported Q3 non-GAAP earnings and revenue late Thursday, below analyst expectations. Shares sank 19%, the S&P 500's worst performer.