Overnight US stocks | Non-agricultural stocks cooled in September to support the Federal Reserve's suspension of interest rate hikes, and the three major indices closed up, SpaceX (SPCX.US) rose 7.35%

The Zhitong Finance App learned that on Friday, the three major indices closed higher. According to data released by the US Bureau of Labor Statistics on Friday, the number of new jobs suddenly dropped to 29,000 in September, the August data was revised down to 133,000, and the July employment data was further lowered by 31,000. After the adjustment, 10,000 jobs were reduced, which turned negative growth. The unemployment rate was 4.1% in August and rose to 4.2% in September. Chicago Federal Reserve Chairman Goulsby said that the latest employment data shows that the US labor market remains stable, and excessive inflation is still the Federal Reserve's more important policy priority at present. Regarding whether the Federal Reserve should continue to raise interest rates or suspend action this month, Goulsby said that “any option is on the table with good reason,” and expressed hope to see more evidence that inflation is falling towards the 2% target.

[US Stocks] At the close, the Dow Jones index rose 250.88 points, or 0.49%, to 51177.44 points; the S&P 500 rose 56.32 points, or 0.73%, to 7722.77 points; and the Nasdaq Composite rose 319.27 points, or 1.19%, to 27190.86 points. SpaceX (SPCX.US) rose 7.35%, Tesla (TSLA.US) rose 4.65%, Dell (DELL.US) rose 3.8%, Broadcom (AVGO.US) rose 3.35%, ASML.US (ASML.US) rose 3.25%, Nvidia (NVDA.US) fell 1.34%; Accenture (ACN.US) fell 6.27%, and Sandisk fell 3.79%. The Nasdaq China Golden Dragon Index fell 2.09%, Alibaba (BABA.US) fell 1.47%, and Baidu (BIDU.US) fell 1.48%.

[European stocks] The German DAX30 index rose 301.79 points, or 1.21%, to 25241.14 points; the British FTSE 100 index rose 31.68 points, or 0.30%, to 10459.95 points; the French CAC40 index rose 61.88 points, or 0.79%, to 7897.19 points; the Eurostock 50 index rose 64.30 points, or 1.04%, to 6239.75 points; Spain's IBEX35 index rose 76.03 points, or 0.40%, to report 19081.33 points; Italy's FTSE MIB index rose 252.64 points, or 0.50%, to 50490.50 points.

[Asia Pacific Stock Market] The Nikkei 225 Index fell 0.94%, South Korea's KOSPI Index rose 0.46%, and the Indonesian Composite Index rose 0.46%.

[Foreign Exchange] The US dollar index, which measures the US dollar against the six major currencies, fell 0.17% on the same day and closed at 101.933 at the end of the foreign exchange market. As of the end of the exchange market in New York, 1 euro was worth $1.1252, up from $1.1235 on the previous trading day; 1 pound was worth $1.3239, up from $1.3190 on the previous trading day. 1 US dollar was worth 157.80 yen, lower than 158.11 yen on the previous trading day; 1 US dollar was worth 0.8287 Swiss franc, lower than 0.8317 Swiss franc on the previous trading day; 1 US dollar was worth 1.4259 Canadian dollars, higher than 1.4236 Canadian dollars on the previous trading day; 1 US dollar was worth 10.0366 SEK, lower than SEK 10.0597 on the previous trading day.

[Cryptocurrency] Bitcoin once surpassed 87,000 US dollars. As of press time, all gains were erased and turned down, and the price was reported at $8,4494; Ethereum fell more than 1.4% to $2,665.

[Precious Metals] Spot gold fell 0.89% to 4139.78 US dollars/ounce; spot silver fell 0.94% to 60.41 US dollars/ounce.

[Crude oil] Light crude oil futures for November delivery on the New York Mercantile Exchange fell $1.76, or 1.9%, to close at $91.11 a barrel; London Brent crude oil futures for December delivery fell 6 cents, or 0.06%, to close at $102.25 a barrel.

[Macro News]

The US Department of Justice will not restart the criminal investigation against Powell. US Attorney General Todd Blanche said the Department of Justice will not restart criminal investigations against former Federal Reserve Chairman Powell. The Federal Reserve Inspector General released an investigation report this week. Powell did not find any criminal acts in the Federal Reserve headquarters renovation project rising to 2.4 billion US dollars. Branch said he was satisfied with the report, but believes Powell has not properly supervised the project. The Federal Reserve has indicated that it will hire an independent auditor to further review the cost of the renovation. Blanche said that if subsequent audits uncover any evidence of criminal conduct, the Department of Justice may still launch an investigation.

The US added only 29,000 new non-farm workers in September, and employers are cautious in hiring against the backdrop of rising costs. Fewer new jobs were added than expected in the US in September, and the unemployment rate rose slightly, indicating that employers are cautious about recruitment at a time when costs are rising. According to data released by the US Bureau of Labor Statistics on Friday, the number of non-farm payrolls increased by 29,000 last month after the data for the previous two months was revised down. This figure is lower than estimated by economists in institutional surveys. The unemployment rate rose to 4.2%, partly reflecting the expansion of the workforce. The slowdown in employment growth was mainly driven by a decline in employment in government, information, professional and business services, and financial activities. Health care, construction, and manufacturing have increased employment. Strong consumer spending and strong corporate investment have supported recruitment, yet many cost-conscious employers are reluctant to expand their workforce. However, layoffs are still at a low level. With unemployment still at historically low levels, Federal Reserve officials can continue to focus on inflation as they consider when to raise interest rates again.

Trump: There will be no ban on diesel exports, Europe will increase the supply of diesel. US President Trump said he has asked Europe to release more diesel supplies to help ease the pressure on fuel prices, and said the US will not implement a ban on diesel exports. Trump said, “I made this request. Europe has plenty of diesel, and they will be making a significant contribution to the world, and so will we.” He said that with the end of the Iranian conflict, oil supply will increase, and oil prices will soon fall back to pre-conflict levels, and may even be lower than their initial level in office. When asked whether to rule out restrictions on diesel exports to Europe, Trump said that the US has good relations with Europe and that Europe is willing to participate because it has large reserves of diesel.

CME suspended the launch of a 10-barrel crude oil futures contract. CME Group (CME Group) announced the suspension of the launch of a 10-barrel crude oil futures contract originally scheduled to support 24-hour all-weather trading. CME Chairman and CEO Terry Duffy said that the product was originally intended to provide an alternative to the market's existing 24/7 crude oil contracts under US regulation, but after communicating with industry participants, some important market participants feared that introducing all-weather energy futures trading without further evaluation could have unexpected consequences and increase market risk, so CME decided to withdraw the relevant application. CME also called on the US Commodity Futures Trading Commission (CFTC) to address regulatory differences between different trading venues to ensure that derivatives meet the requirements of the Commodity Exchange Act.

[Individual Stock News]

Affected by the rise in the cost of memory chips, Google raised the price of the Pixel 10a by $100. Google (GOOG.US, GOOGL.US) raised the price of the Pixel 10a, an affordable phone that has only been on the market for 7 months by $100 to $599, reflecting that the continued shortage of memory chips is driving up the cost of consumer electronics products, and even affecting older devices. This week, Samsung also raised the price of most Galaxy S26 models by $100. The iPhone 18 Pro and Pro Max launched by Apple (AAPL.US) last month were higher than the previous generation, and raised the prices of some older models. When Google launched the Pixel 11 series in August this year, the price of each model also generally increased by $100 compared to the previous generation, but the price increase was partially offset by increasing the storage capacity of the basic version.

Tesla's quarterly deliveries were stronger than expected. The third-quarter deliveries announced by Tesla (TSLA.US) on Friday exceeded Wall Street expectations, and there was a recovery this year after sluggish sales in the European market last year. Tesla delivered a total of 486,532 vehicles in the third quarter, higher than analysts' average estimate of 456,896 vehicles. These data suggest that Tesla's core car business may be stabilizing after two consecutive years of declining annual sales. Tesla needed to deliver at least 311,448 vehicles in the fourth quarter to avoid a third year in a row in annual deliveries. Analysts expect Tesla's gradual introduction of fully autonomous driving (FSD) software in Europe will further drive sales growth. Currently, FSD has been approved for use in 8 countries.

[Major Bank Ratings]

UBS: Cut Nike (NKE.US) target price from $42 to $34; cut Pepsi (PEP.US) target price from $159 to $145.