Closing Bell Overtime: Nvidia hits all-time high 10/2/26

Markets hit records on a weak jobs print as traders bet the Fed skips an October hike while AI infrastructure bets face scrutiny over monetization and competitive risk.

• Nasdaq record despite soft jobs: Nonfarm payrolls hit just 29,000 vs 84,000 expected, July revised to -10,000, yet Nasdaq 100 topped 31,000 intraday before closing at 30,800, up 11 of last 13 sessions.
• NVIDIA closes valuation gap with Apple: NVIDIA hit a new high as its forward P/E fell to 17 despite rising earnings power, versus Apple's mid-30s multiple, as AI-trade risk appetite revived.

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