Market Reverses Gains Amid Labor Data Uncertainty
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BTCCSquare news:
The S&P 500 and Nasdaq 100 surrendered early gains driven by Nvidia's earnings beat, sliding into negative territory as September's mixed jobs report took center stage. Nonfarm payrolls added 119,000 positions—well above estimates—but August's figures were revised to a 4,000 loss, while unemployment ticked up to 4.4%.
Glassdoor's Daniel Zhao noted the data reflects 'resilience with muddiness,' leaving traders weighing the implications for Fed policy. The shift overshadowed Nvidia's results, with the chipmaker's revenue and EPS exceeding expectations amid broader semiconductor sector volatility.
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