Morning Brief Nvidia powers market rebound, jobs data surprises, Walmart beats big
US stocks push higher as Nvidia’s (NVDA) blowout earnings reset sentiment across global markets and help offset a surprisingly strong September jobs report. Nvidia topped expectations on revenue and profit, guided to $65 billion for the current quarter, and CEO Jensen Huang dismissed AI bubble concerns, saying demand “is through the roof” with a $500 billion order pipeline for 2026 . The results sparked a broad tech rally, with Nasdaq futures jumping as much as 2%.
Fresh labor data finally arrived after shutdown delays, showing 119,000 jobs added in September — more than double expectations — while August was revised sharply down to a 4,000 job loss, the first negative reading in months . The unemployment rate ticked up to 4.4%, and wage growth cooled to 0.2% month-over-month. Economists warned the mixed signals strengthen the case for the Fed to hold rates steady in December given the lack of October data and the BLS’ decision to delay the next full report until after the meeting.
Walmart (WMT) delivered another strong quarter, raising full-year guidance behind 30% e-commerce growth and continued gains among higher-income shoppers. The retailer reported seven straight quarters of double-digit online growth and highlighted improving delivery speeds, while noting a softening in low-income spending — one of the clearest signs yet of the K-shaped consumer environment .
Takeaways:
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Nvidia beats across the board and guides higher; CEO says AI demand is accelerating, not peaking
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September payrolls rise 119K with a surprise negative revision for August; unemployment nudges up to 4.4%
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Fed expected to hold rates in December as missing data limits visibility
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Walmart raises guidance again as e-commerce and higher-income spending fuel gains
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Markets extend a multi-day rebound, with Nasdaq futures up nearly 2% on Nvidia-led strength
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