Until the end of FY23, markets had underperformed for a couple of years, while earnings growth for markets during this time was in the mid-teens. Thus, the recent movement in the markets, to a great extent, is a catch-up rally.
Nasdaq rises 1%, Dow, S&P close higher as weak jobs data tempers rate hike bets
U.S. stocks finished higher following a weaker-than-expected jobs report which eased rate hike expectations. Nonfarm payrolls rose by only 29,000, significantly below economists’ forecasts of
October 2, 2026