---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000924560.md"
description: "September’s weak payroll growth and higher unemployment materially reduce pressure for an October Fed hike, shifting expectations sharply toward policy easing or a hold. Lower rate expectations support equities by reducing discount-rate pressure, particularly for growth and technology stocks. The Nasdaq’s record and Nvidia’s strength reflect this favorable liquidity backdrop, reinforced by Morgan Stanley’s bullish $300 target. However, the weak labor data also raises concerns about economic momentum. Markets may therefore remain sensitive to upcoming inflation and activity data, as a deteriorating growth outlook could eventually outweigh the benefit of lower rates."
datetime: "2026-10-05T04:05:35.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000924560.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000924560.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000924560.md)
author: "[TheRaccoonAnalysis](https://longbridge.com/en/profiles/26041475.md)"
generator: "portal-rs"
---

# September’s weak payroll growth and higher unemplo…


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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**