US equity index futures green: Nasdaq 100 up ~2%
Sep non-farm payrolls 119k vs 50k estimate; unemployment rate 4.4% vs 4.3% est
Euro STOXX 600 index up ~1%
Dollar, bitcoin gain; crude up ~1%; gold slips
US 10-Year Treasury yield ~flat at ~4.13% Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at
<h3>US STOCK FUTURES ADD TO GAINS AFTER LATEST JOBS DATA</h3>
The main U.S. equity index futures are higher after the release of the September jobs report. Jobless claims and the Philly Fed Business Index also came out. E-mini S&amp;P 500 futures (EScv1) are up around 1.6% vs a gain of around 1.2% just before the data came out. The futures were already sharply higher after Nvidia’s (NVDA.O) rosy Q4 outlook rekindled animal spirits.
The September nonfarm payroll headline jobs number was +119,000 vs the Reuters Poll calling for +50,000. The prior headline jobs read for August was revised down to -4,000 from +22,000.
The September unemployment rate was 4.4% vs a 4.3% estimate. The prior read was 4.3%.
Wage data on a month-over-month basis was slightly cooler-than-expected. The year-over-year number was slightly hotter-than-expected.
This report’s release had been delayed because of the government shutdown.
Initial jobless claims came in at 220,000 vs a 230,000 estimate and a prior print of 232,000. The November Philly Fed Business Index was -1.7 vs a 2.0 estimate and a prior read of -12.8. According to the CME’s FedWatch Tool, the probability that the Fed leaves its current target rate of 3.75%-4.00% unchanged at its December 9-10 FOMC meeting is now around 64% vs 70% just before the data was released. The chance that the FOMC cuts rates by 25 basis points is now around 36% from 30%.
Interest rate probabilities are now calling for a total of around 86 basis points (bps) of cuts to occur in 2026 vs about 82 bps just before the data was released.
The U.S. 10-Year Treasury Yield (US10YT=RR) is now around 4.12%. It was around 4.15% just before the numbers. The yield ended Wednesday at 4.131%.
All S&amp;P 500 index (.SPX) sector SPDR ETFs are quoted higher in premarket trade with Tech (XLK.P) , up nearly 2.5%, posting the biggest gain. This, with NVDA rallying 5%.
The SPDR Regional Banking ETF (KRE.P) is up around 0.6%.
Regarding the jobs data, Jan Nevruzi, U.S. Rates Strategist at TD Securities, in New York, said:
“Depending on your priors from the Fed, it probably gives both the hawks and the doves something to confirm what they thought. We have a little bit of a stronger number on the headline side, despite the revisions, but the unemployment rate almost rounded up to 4.5%.”
Nevruzi added “We’re rallying (in Treasuries) because we’re bringing the pricing back closer to a coin flip (for the December Fed meeting).”
Here is a premarket snapshot from around 9 a.m. ET:
(Terence Gabriel, Karen Brettell)
<h3>EARLIER ON LIVE MARKETS:</h3>
<h3>SEPTEMBER’S PAYROLLS: A BIG ONE OR TOO STALE TO CARE? BITCOIN GETS POLITICAL CLICK HERE EUROPE SPARKS TO LIFE AFTER NVIDIA RESULTS CLICK HERE EUROPE BEFORE THE BELL: STOCKS SET TO JUMP AFTER REASSURING NVIDIA RESULTS CLICK HERE U.S. JOBS TEST LOOMS AFTER NVIDIA RELIEF CLICK HERE</h3>
LMpremarketData11202025
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<img src="https://imageproxy.pbkrs.com/https://fingfx.thomsonreuters.com/gfx/buzz/klpyjdgrqvg/premarket11202025.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="596" height="377" original-src="https://imageproxy.pbkrs.com/https://fingfx.thomsonreuters.com/gfx/buzz/klpyjdgrqvg/premarket11202025.png"/>

NVDA

US stock futures rise after September jobs report shows non-farm payrolls at 119k vs 50k estimate, unemployment rate at 4.4% vs 4.3% estimate. Nasdaq 100 up ~2%, Euro STOXX 600 up ~1%. Dollar, bitcoin, and crude gain; gold slips. US 10-Year Treasury yield flat at ~4.13%. Nvidia's positive Q4 outlook boosts market sentiment. Initial jobless claims at 220k vs 230k estimate. Fed rate cut probability for December meeting now at 36%.

- U.S. equity index futures rose following the September jobs report, with non-farm payrolls at 119,000, significantly above the 50,000 estimate, and an unemployment rate of 4.4%.  
- The report also indicated initial jobless claims at 220,000 and a slight increase in wage data year-over-year, impacting market expectations for future Federal Reserve rate decisions.  
- The Nasdaq 100 gained approximately 2%, while the dollar, bitcoin, and crude oil also saw increases, reflecting positive market sentiment.

LIVE MARKETS-US stock futures add to gains after latest jobs data