9AM HOUR: Stocks Rally and Yields Fall on Jobs Report, Tesla Delivers, Nike Tumbles 10/2/26

A much-weaker-than-expected jobs report pushed yields down and lifted stocks, with NVIDIA hitting a record high on reaffirmed AI demand.

• Jobs shock: September payrolls came in at just 29,000 vs. estimates roughly triple that, with negative revisions and wage growth at 2.6% three-month annualized; odds of an October Fed pause rose to 85%.
• Nike slumps: Shares fell toward a 10% drop after Nike missed fiscal Q1 revenue estimates, guided weaker, and announced more layoffs; Greater China sales fell 26% and the brand's China market share dropped from 27% to 16% in five years.

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