US Payroll Growth Slows Sharply in September as Unemployment Edges Higher
Original summary · What happened
United States employment expansion decelerated significantly during September, falling well short of Wall Street forecasts. Employers added a seasonally adjusted 29,000 nonfarm positions across the month, according to figures released by the Department of Labor. In tandem with the subdued hiring figure, the nationwide unemployment rate ticked up slightly to 4.2 percent, rising from the 4.1 percent level recorded in the preceding period.
Beyond the headline monthly deceleration, government statisticians implemented downward revisions to earlier payroll counts, subtracting 60,000 jobs across July and August combined. Revisions brought August hiring down to 133,000 positions, while July was revised from a modest expansion to an outright contraction of 10,000 jobs. Following the weaker labor release, government bond yields receded from multi-decade peaks as equity futures advanced on expectations that monetary policymakers may refrain from immediate benchmark borrowing adjustments.
2 independent sources ·
Nvidia Stock Reaches All-Time High Supported by AI Spending
Original summary · What happened
Shares of Nvidia advanced to fresh record territory during Friday trading, moving past the prior record peak of $235.54. The equity climbed to an intraday price of $237.55 after beginning the market session at $236.05, pushing the semiconductor designer's total market capitalization up to $5.7 trillion. The milestone represents the company's first share-price peak since May, following an earlier two-month retrenchment in which over $1 trillion in market value had been erased before buyers re-entered.
The ongoing rally reflects sustained global infrastructure expenditures on artificial intelligence hardware, where Nvidia remains a primary supplier of graphics processing units and integrated networking systems. During its second-quarter financial update, the firm reported revenue of $96.2 billion, eclipsing expectations, while forecasting third-quarter revenue between $105.8 billion and $110.1 billion. Investor scrutiny persists around circular capital flows and whether current valuations accurately reflect sustained commercial demand.
2 independent sources ·
Justice Department Declines to Reopen Probe Into Former Fed Chair Jerome Powell
Original summary · What happened
Federal law enforcement authorities have confirmed they will not resume an inquiry into former Federal Reserve Chair Jerome Powell concerning budgetary overruns tied to the central bank's headquarters reconstruction project. A Department of Justice representative indicated that the prior investigation, which initially began in January, remains closed with respect to the former central bank leader. While an internal inspector general evaluation previously identified notable management shortcomings regarding project expenses, the watchdog determined there were insufficient grounds indicating criminal conduct.
Despite the determination regarding Powell, justice officials noted that broader reviews of the renovation could still yield administrative or enforcement scrutiny if external audits expose unlawful activity. The posture follows public criticism from political figures urging accountability over the compound's rising capital expenditures. Market participants monitor leadership and legal developments surrounding the central bank for signs of political friction that could influence public perception of monetary policy governance.