The S&P 500 closed on Friday, October 2, 2026, at 7,722.72, and the Dow Jones Industrial Average closed at 51,176.96, both higher after a September jobs report that showed far fewer new jobs than economists had forecast. The S&P 500 gained 56.27 points, or 0.73 percent, and the Dow gained 250.40 points, or 0.49 percent, according to Yahoo Finance’s closing table for the session.
The Nasdaq Composite rose 1.19 percent to 27,190.86. Traders cut the odds of a Federal Reserve rate hike at its October meeting sharply after the Labor Department reported that employers added 29,000 jobs last month.
How the three major indexes finished on October 2
Yahoo Finance’s market-close coverage gives the S&P 500 at 7,722.72 (up 56.27), the Dow at 51,176.96 (up 250.40) and the Nasdaq Composite at 27,190.86 (up 319.27). A separate report from Tapeboard carries the same S&P 500 and Dow closes to the hundredth and adds that the S&P 500 was up 12.60 percent for the year after the session, with the Dow up 5.78 percent.
A third review, from eOption, rounds to whole points and lists the S&P 500 at 7,722 and the Dow at 51,177, consistent with those levels. Its point changes differ slightly from Yahoo’s, which is why this article uses Yahoo’s figures for the daily moves. Both of Yahoo’s levels are consistent with its own stated point changes, which is the reason they are preferred over rounded figures. Friday was the last completed trading session before Sunday, October 4. Neither source reports a record close for the S&P 500 or the Dow, and none is claimed here.
September payrolls of 29,000 and downward revisions
The Bureau of Labor Statistics reported in its Employment Situation summary that total nonfarm payroll employment rose by 29,000 in September and the unemployment rate was 4.2 percent, with 7.1 million people unemployed. In the bureau’s words, both payroll employment and the unemployment rate “changed little” in September. The bureau notes the rate has stayed in a narrow range of 4.1 to 4.3 percent since March. Yahoo Finance put economists’ forecasts at 85,000 to 90,000 jobs and said the rate had edged up from 4.1 percent.
Prior months were revised lower. July’s change was revised to a loss of 10,000 jobs from a gain of 21,000, and August was cut to a gain of 133,000 from 162,000, a combined 60,000 fewer jobs than first reported. Average hourly earnings in the private sector rose 5 cents, or 0.1 percent, to $37.81, and were 3.0 percent higher than a year earlier. Health care added 17,000 jobs, a slower pace than its recent average, construction 11,000 and manufacturing 9,000, while financial activities lost 7,000.
The household survey showed 1.9 million people unemployed for 27 weeks or longer and a labor force participation rate of 61.8 percent. eOption describes the 3.0 percent annual wage gain as the slowest pace in more than three years.
Equity buyers read the data as a reason for lower borrowing costs ahead. Yahoo Finance and eOption both tie the rally to the Fed outlook, and eOption singles out technology and large-cap growth shares, which tend to gain when expected borrowing costs fall. The Nasdaq Composite’s 1.19 percent rise was the largest of the three indexes.
Rate-hike odds, the 10-year yield and WTI crude
The weak report moved expectations for the Fed. Yahoo Finance reported that bond traders cut the odds of an October rate hike from 64 percent to 16 percent, and quoted one analyst who said the figures “put the Fed definitely on hold for October.” The Federal Open Market Committee’s next meeting is scheduled for October 27 and 28, 2026, according to the Federal Reserve’s meeting calendar.
Longer-term yields did not fall with the jobs data. eOption puts the 10-year about 10 basis points higher on the week, with inflation concerns persisting. The 10-year Treasury yield fell at first and then recovered, finishing at 5.28 percent. Treasury’s daily par yield curve rates show the 10-year at 5.28 percent on October 2, against 5.24 percent on October 1. The 2-year was at 4.83 percent, up from 4.78 percent, and the 30-year at 5.63 percent.
West Texas Intermediate crude settled at $91.11 a barrel, down 1.9 percent, according to both Yahoo Finance and eOption, which attributed the drop partly to reports of possible European diesel stock releases aimed at cooling fuel prices. Yahoo Finance specified the November contract for the $91.11 settlement, down $1.76 on the day by eOption’s count. Brent crude was near $102 a barrel, and the two reports differ on its direction: Yahoo said it rose slightly, while eOption put it down $0.06 at $102.25.
The Treasury figures are the official record for the day’s yields: 5.28 percent on the 10-year note on October 2, 2026, four basis points above the prior day’s 5.24 percent.
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This article was produced with AI assistance, and its index levels, jobs data and yields were checked against the cited sources.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
