Daily News
Nikkei Jumps 2.2% as Hang Seng Holds Flat; U.S. Stocks Close the Week Higher; Gold Steadies Near $4,150 After Weak Jobs Data; Crude Slips to Around $90 on Rising Supply
05 October 2026
Today in Brief
Asia-Pacific markets were mostly higher, with Japan’s Nikkei 225 adding 2.2% and the broader Topix rising 0.79%, Australia’s S&P/ASX 200 up 0.12% and Hong Kong’s Hang Seng index flat, while markets in mainland China and South Korea were closed for holidays. U.S. stocks closed out the week higher on Friday, with the major benchmarks hitting all-time highs earlier in the session before the rally faded. Gold steadied near $4,150 an ounce on Monday as the US economy added just 29,000 jobs in September, far below expectations for 90,000, easing pressure on the Federal Reserve to raise interest rates further, while crude oil fell to around $90 per barrel as G7 countries agreed to release 100 million barrels from emergency reserves and OPEC+ members agreed to keep production quotas unchanged next month.
In other news: the US unemployment rate rose to 4.2% and annual wage growth slowed to 3.0%; President Trump reiterated his pledge to send $5,000 checks if Republicans retain Congress in the midterms; the Department of Justice said it will not reopen its criminal probe into former Fed Chair Jerome Powell; the Reserve Bank of India is seen kicking off a rate hike cycle this week; Amazon’s cloud division will invest more than $1 billion over five years in US data centre communities; Rivian posted record third-quarter deliveries; Tesla shares jumped nearly 5% as Q3 deliveries beat expectations; and ON Semiconductor stock surged 6% after announcing an improved acquisition structure for its pending takeover of Synaptics.
In Asia, Japan’s Nikkei 225 added 2.2%, while the broader Topix rose 0.79%
In Asia, Japan’s Nikkei 225 added 2.2%, while the broader Topix rose 0.79%. Australia’s benchmark S&P/ASX 200 was 0.12% higher. Hong Kong’s Hang Seng index was flat. Markets in mainland China and South Korea were closed for holidays. On Friday, U.S. stocks rose to close out the week, with the blue-chip Dow adding 250 points, or 0.5%, to close at 51,176.46, while the broad market S&P 500 climbed 0.7% to 7,722.72. The tech-heavy Nasdaq Composite rallied 1.2% to 27,190.86, after hitting an all-time high earlier in the session.
S&P 500 posts winning week, but Friday rally fizzles
The S&P 500 retreated from a record on Friday but held on to solid weekly gains despite a U.S. government shutdown dragging on for a third day. The broad market index closed little changed, ticking up just 0.01% at 6,715.79, while the Nasdaq Composite declined 0.28% to settle at 22,780.51. The Dow Jones Industrial Average outperformed, trading higher by 238.56 points, or 0.51%, to finish at 46,758.28. The Russell 2000 also popped 0.72% to close at 2,476.18. All four benchmarks had hit all-time highs earlier in the session. Stocks were knocked down a bit in afternoon trading by declines in key technology names like Palantir Technologies, Tesla and Nvidia. Palantir led the S&P 500′s pullback, falling 7.5%, while Tesla and Nvidia dropped more than 1% and almost 1%, respectively.
Gold steadied near $4,150 an ounce on Monday after facing pressure in the previous session
Gold steadied near $4,150 an ounce on Monday after facing pressure in the previous session, as weaker-than-expected US jobs data eased pressure on the Federal Reserve to raise interest rates further. Data released Friday showed the US economy added just 29,000 jobs in September, far below expectations for a 90,000 increase, following a downwardly revised gain of 133,000 in August. The unemployment rate rose to 4.2%, while annual wage growth unexpectedly slowed to 3.0%, its weakest pace since May 2021. Markets are now pricing in nearly an 80% chance that the Fed will keep policy unchanged this month, while expectations for a December hike remained around 69%. Meanwhile, elevated Treasury yields continued to weigh on precious metals, with the US 10-year yield hovering near its highest level since 2002.
Crude oil fell to around $90 per barrel on Monday, extending losses
Crude oil fell to around $90 per barrel on Monday, extending losses as signs of increasing global supply outweighed concerns over persistent geopolitical risks in the Middle East. On Friday, G7 countries agreed to release 100 million barrels of crude and diesel from emergency reserves while pledging not to impose restrictions on energy exports. Major OPEC+ members also agreed over the weekend to keep production quotas unchanged next month amid prolonged supply disruptions caused by the Middle East conflict. Meanwhile, data showed Persian Gulf crude exports exceeded pre-war levels on four of the seven days during the final week of September, despite disruptions in the Strait of Hormuz and the ongoing US-Iran conflict.
The US economy added 29K jobs in September 2026, following a downwardly revised 133K in August
The US economy added 29K jobs in September 2026, following a downwardly revised 133K in August and well below forecasts of 90K. Increases were seen in health care employment (17K), mostly ambulatory health care services (13K) and in hospitals (12K); construction (11K) and manufacturing (9K), mostly plastics and rubber products (5K) and machinery (5K). In contrast, falls were recorded for financial activities (-7K). Employment also showed little change in other major industries, including mining, quarrying, and oil and gas extraction; wholesale trade; retail trade; transportation and warehousing; information; professional and business services; social assistance; leisure and hospitality; other services; and government.
Trump reiterates pledge to send $5,000 checks, and hands out smaller payments, as midterm elections loom
With Election Day less than a month away, President Donald Trump is touting two federal cash-payment programs already underway while renewing a much larger $5,000 check promise contingent on Republicans retaining Congress. On Friday, Trump announced one-time $90 payments to 20.8 million Medicare beneficiaries. A day later, he revived an earlier promise to give every adult U.S. citizen $5,000 — but only if Republicans retain control of Congress in November. “If Republicans win the House of Representatives and the Senate in the 2026 Midterm Elections, I’m going to give all Adult Citizens in the United States of America, $5,000,” Trump said in a Truth Social video post Saturday. The president made a similar pledge at the Republican National Committee’s first midterm convention in Dallas last month.
DOJ says it will not reopen criminal probe into former Fed Chair Powell
The Department of Justice will not reopen its criminal investigation into former Federal Reserve Chair Jerome Powell over the central bank’s overbudget multibillion-dollar headquarters renovation a department spokesperson told CNBC. “We’re not reopening a criminal investigation into him,” Attorney General Todd Blanche told Bloomberg in an interview Friday. Blanche did not rule out separate Justice Department action related to the renovation in his interview. He told the outlet the independent audit of the renovation could prompt an investigation if it uncovers evidence of criminal wrongdoing.
India seen kicking off rate hike cycle as inflation broadens, peers turn hawkish
Investors have loaded up on bets that the Reserve Bank of India will raise rates this week, warning that it risks falling behind the curve as inflation quickens, growth remains resilient and major central banks turn more hawkish. Nearly 60% of economists polled by Reuters, 35 out of 61, expect a 25-basis-point rate hike at its policy meeting on Wednesday. Market pricing is more decisive with swap markets fully pricing in an increase in borrowing costs. If delivered, the hike would be the RBI’s first in nearly four years and lift the benchmark repo rate from 5.25% where it has remained for nearly 10 months. The Monetary Policy Committee cut rates by a cumulative 125 bps in 2025 from 6.5% to 5.25%. Bajoria expects the central bank to kick off a 100-basis-point tightening cycle in October with subsequent hikes pencilled in for December and the first half of 2027.
Amazon to invest $1 billion over five years in US data centre communities
Amazon’s cloud computing division said on Friday it would invest more than $1 billion over the next five years in US communities where it has data centres and vowed to tackle their impacts on electricity and water usage. Data centres, which provide the computing power to train and run AI models, have drawn opposition in communities nationwide over concerns about electricity demand, utility costs and other local impacts. The backlash poses a political challenge for Republicans heading into the US midterm elections on November 3. Amazon said it had invested $276 billion in data centres between 2011 and 2025 and had large projects or expansions in the works in many states including Indiana, Louisiana, North Carolina, Virginia and Mississippi.
Rivian deliveries hit record high as R2 rollout gains momentum
Rivian Automotive reported record third-quarter deliveries on Friday, beating analysts’ estimates after rolling out its cheaper R2 SUV targeted at a broader section of the mass EV market. The R2, for which deliveries began in June, is seen by analysts as critical to Rivian’s growth strategy, as the electric vehicle sector navigates a challenging US policy environment marked by the end of federal EV tax credits, tariffs and weaker industry-wide demand. Before the R2, the EV maker’s consumer lineup featured the R1S SUV and R1T pickup truck, both positioned as premium models. Rivian delivered a record 19,248 vehicles in the quarter ended September 30, beating analysts’ average estimate of 18,001 vehicles, according to data compiled by Visible Alpha.
Tesla shares jump nearly 5% as Q3 deliveries beat expectations
Tesla shares jumped nearly 5% Friday after the electric vehicle maker reported third-quarter deliveries well above expectations, giving investors a stronger-than-expected update on its core auto business. Tesla delivered 486,532 vehicles, about 5% above the company-compiled consensus of 461,974. Model 3/Y deliveries of 478,237 also comfortably topped both the company consensus of 450,712 and FactSet’s 435,000 estimate. The strong delivery figure helped offset a weaker showing from Tesla’s energy business. Energy-storage deployments totalled 13.7 GWh, missing the 15.9 GWh consensus by roughly 14%. Tesla produced 464,391 vehicles, around 22,000 fewer than it delivered, suggesting inventory was drawn down during the quarter and potentially supporting cash flow. The stock’s positive reaction comes as investors increasingly look beyond Tesla’s vehicle volumes toward Full Self-Driving, robotaxis and Optimus humanoid robots.
ON Semiconductor stock surged 6% in open trading after the company announced a significantly improved acquisition structure for its pending takeover of Synaptics
The amendment, announced on the evening of October 1, 2026, followed an unsolicited competing bid for Synaptics from an undisclosed third party — an unusual dynamic that ultimately resulted in a lower, not higher, price, as on semi and Synaptics each secured terms better suited to their respective strategic priorities. The revised deal is structured to be immediately accretive to on semi’s non-GAAP earnings per share upon closing, a key distinction from the original agreement, and the company noted it has identified additional value opportunities beyond the previously announced $200 million in annual run-rate synergies, including revenue synergies and insourcing of a portion of Synaptics’ production.