WS #15265
The September jobs report's significant miss (29k vs 90k) has drastically reduced the likelihood of a Federal Reserve rate hike in October, fueling a broad rally in growth stocks. Nvidia and the Nasdaq 100 have surged to new all-time highs, benefiting from the lower discount rate environment. This move reflects a market consensus that the Fed will pivot to easing, despite sticky inflation signals in bond yields.
Tech Rally on Rate Cut Hopes
The September jobs report's significant miss (29k vs 90k) has drastically reduced the likelihood of a Federal Reserve rate hike in October, fueling a broad rally in growth stocks. Nvidia and the Nasdaq 100 have surged to new all-time highs, benefiting from the lower discount rate environment. This move reflects a market consensus that the Fed will pivot to easing, despite sticky inflation signals in bond yields.