US equities reversed sharply on Thursday after an initial rally, with the Nasdaq falling about 2.1% (a more than 3.5% intraday reversal), the S&P 500 down 1.5% and the Dow off 380 points (0.8%), as a blockbuster Nvidia report and a stronger-than-expected September jobs print prompted volatile trading and profit-taking. Nvidia beat earnings and issued robust Q4 revenue guidance—CEO Jensen Huang said demand for Blackwell processors is "off the charts"—but the stock finished down 3.1% after an early surge; the Labor Department reported 119,000 payrolls added in September versus 51,000 expected while the unemployment rate ticked up to 4.4%, leaving markets to price roughly 38% odds of a December Fed rate cut and underscoring divisions shown in Fed minutes. Crypto markets fell sharply (bitcoin traded below $87,000) and Walmart jumped nearly 7% after beating on the quarter and raising full-year guidance, highlighting mixed signals on consumer strength amid policy uncertainty and elevated market volatility.
US equities swung from an early rally into a sharp midday reversal as investors digested a combination of corporate results and fresh economic data; the Nasdaq fell about 2.1% (after a more than 3.5% intraday reversal), the S&P 500 declined 1.5%, and the Dow lost 380 points (0.8%). Markets initially rallied on Nvidia’s earnings beat, a stronger-than-expected September jobs report and Walmart’s upbeat quarter, but selling accelerated alongside a sharp drop in crypto where bitcoin traded below $87,000, near April lows. Nvidia beat quarterly expectations and issued stronger-than-expected Q4 revenue guidance, with CEO Jensen Huang saying demand for Blackwell processors is "off the charts," yet NVDA finished down 3.1% after an early 5% intraday spike, signaling profit-taking and position rebalancing in AI-linked names despite solid demand signals. Walmart’s results and a nearly 7% stock jump after raising full-year guidance underscore pockets of consumer resilience heading into the holiday season. The September nonfarm payrolls print showed 119,000 jobs added versus 51,000 expected while unemployment edged up to 4.4%, driving options-implied odds of a December Fed cut to roughly 38% and echoing Fed minutes that showed "strongly differing views" among policymakers. The data mix increases policy uncertainty and near-term volatility risk; investors should expect earnings-flow sensitivity and rate-sentiment driven repricings across tech, retail and crypto exposures.
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Overall Sentiment
mildly negative
Sentiment Score
-0.35
Ticker Sentiment
