U.S. stocks mixed as weak payrolls lift Fed pause bets and chip shares

  • U.S. stocks ended the week mixed after September payrolls increased by 29,000.
  • Micron reported $54.23 billion in fourth-quarter fiscal 2026 revenue.
  • Traders priced an 80% probability of unchanged Fed rates in October.

U.S. stocks finished the week mixed after September nonfarm payrolls increased by 29,000, well below roughly 90,000 economists expected, strengthening expectations that the Federal Reserve would leave interest rates unchanged at its Oct. 28 meeting. The unemployment rate rose to 4.2%, while weaker inflation data and falling Treasury yields supported technology, semiconductor and software shares. The Nasdaq Composite gained 0.5% and reached fresh ground, while the Nasdaq 100 hit a record high on Friday; the S&P 500 fell 0.3%, the Dow declined 1.3% and small-cap stocks lagged. Micron Technology's results and fiscal 2027 outlook underscored optimism about AI-related chip demand, while Alphabet rose after Google introduced its Gemini 4 Argon AI model. Elevated long-term borrowing costs, volatile oil prices and global inflation pressures continued to constrain broader risk appetite.

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