MARKET WRAP

Stocks rallied today after a blowout September jobs report.

The S&P 500 was up 0.9%, the Nasdaq gained 1.22% and the Russell 2000 was up 1.41%.

Today’s gains pushed the markets into positive territory for the week, after a rough start to October.

United Airlines was among the top-performing stocks on the day, up 6%.

Tesla, AMD, Meta, and Amazon also outperformed, helping to push the Nasdaq higher.

Financials was the top sector. Big bank earnings kick off next Friday with JPMorgan and Wells Fargo set to report.

MRKT MATRIX: October 4, 2024

Today’s Top Stories:

• S&P 500 rises after blockbuster jobs report (CNBC)

• U.S. job creation roared higher in September as payrolls surged by 254,000 (CNBC)

• Fed close to pulling off the elusive economic soft landing in 2024 after great September jobs report (CNBC)

• Larry Summers Says 50 Basis Point Rate Cut in September Was ‘A Mistake’ (Bloomberg)

• Did Analysts Cut EPS Estimates More Than Average for S&P 500 Companies for Q3? (FactSet)

• Investment Strategy View: Energy Dominance (SoFi)

• Spirit Airlines Explores Bankruptcy Filing (WSJ)

• Rivian shares fall after EV maker slashes production forecast, misses Q3 delivery expectations (CNBC)

• Texas Regulator Wants Data Centers to Build Power Plants (Bloomberg)

• Robotaxis Can’t Be a Solo Act (WSJ)

Today’s MRKT Call is Presented by CME Group

Blowout Jobs Report Pushes Stocks Higher

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Today’s On The Tape is Presented by CME Group, iConnections and SoFi

Gold, Bonds and All That Jazz with Lauren Goodwin

Guy Adami and Danny Moses are joined by Lauren Goodwin, Chief Market Strategist at New York Life Investments, for an in-depth discussion on current market dynamics and the broader economic landscape. The conversation covers a range of topics including Lauren's background in economics and her experiences at various financial institutions, and the growing demand for energy amid AI advancements. They also delve into the implications of a potential political sweep in the U.S., discuss the global dollar dominance, and assess inflation risks. Additionally, they highlight the role of commodities like gold, uranium, and natural gas in today's market and explore the intricacies of private markets and asset allocation strategies.

Listen here

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