Market Brief 4 October, 2024

Good evening, investors and traders! The markets are experiencing a mixed day, with the Nasdaq 100 Index (NDX) down by -0.23% to 19,756.21 and the S&P 500 Index (GSPC) down by -0.31% to 5,692.12. The U.S. economy added a surprising 254,000 jobs in September, exceeding expectations and pushing the unemployment rate down to 4.1%. This strong jobs report has boosted investor sentiment, sending the U.S. dollar higher and pushing Treasury yields up. The Federal Reserve's rate cut strategy is now being questioned, with traders reducing their bets on a 50 basis point cut in November. The strong jobs data has also fueled optimism for Bitcoin, which has surged above $62,000.