By Alexandra Harper 
Fears of another Federal Reserve rate hike were eased by a sharply weaker US jobs report on Friday, October 2, 2026. This caused the Dow Jones Industrial Average to rise 250.40 points. However, a drop in Nike stocks kept the blue-chip average behind the tech-heavy Nasdaq and caused it to lose money for the week.
How did the Dow Jones end the day on October 2, 2026?
Friday, October 2, 2026, the Dow Jones Industrial Average closed at 51,176.96, up 250.40 points, or 0.49%, from Thursday, October 1, 2026, when it closed at 50,926.56. The average started the day at 51,241.18 and quickly rose to a high of 51,382.88 in the first half hour of trading. It then lost most of its gain and briefly fell to 50,950.61 before rising again in the afternoon.
The gain on Friday built on Thursday’s recovery, when the Dow rose from its lowest level during the day since mid-June to end the day slightly higher. Still, dpa-AFX says the average was down 1.26% at the end of the week and is still about 6.5% below its 52-week high of 54,744.33, making it the least active of the three main US standards.
Why did the Dow Jones go up today?
Economists thought the US economy would add 85,000 to 90,000 non-farm jobs in September, but it only added 29,000. As a result, the unemployment rate rose to 4.2%. Back months were also changed for the worse. For example, August was lowered from 162,000 to 133,000, according to Alliance News. Deutsche Bundesbank analyst Dirk Chlench told dpa-AFX that August’s high number now seems like a fluke.
As soon as the data got worse, interest rate expectations changed. Alliance News reports that the odds on CME FedWatch have moved up from 36% a week ago to around 80% that the Federal Reserve will keep rates the same at the end of October. According to Ronald Temple of Lazard Asset Management, the markets got lucky. However, he warned that the Fed could still be pushed to tighten again by two more months of inflation figures before December.
Why did the Nasdaq do better than the Dow?
Since the Dow is price-weighted and leans more toward industrials, consumer brands, and financials than the Nasdaq, it didn’t catch as much of Friday’s tech rise. Nike was the biggest drag on the market. It dropped 3.6% and finished at the bottom of the average after the sportswear company reported lower-than-expected revenue of $11.21 billion in the first quarter of fiscal 2027 and said it would be cutting jobs. (dpa-AFX) A UBS analyst named Jay Sole said that earnings estimates could drop even more.
It was also important how Treasury yields changed. After the report, the 10-year yield fell from a high point near 5.34% on Thursday to about 5.18%. However, bonds stopped rising later in the day, which limited the gains for blue chips that are sensitive to changes in interest rates.
How did the session take shape because of oil and politics?
After the Trump administration put pressure on them to lower record diesel prices, the G7 and partner countries agreed to send up to 100 million barrels of emergency crude and diesel over four months. This will be coordinated by the International Energy Agency. After hearing the news, Brent fell below $100 a barrel but then rose back up to $102 to $103. This will keep energy prices high as the conflict in the Middle East starts its eighth month. Geopolitical risk stayed in the spotlight thanks to news that the US is sending more naval forces to the Persian Gulf.
How did Nike’s success spread to other markets?
Consumer stocks were affected by Nike’s fiscal first-quarter report, which came out after the market closed on Thursday. Revenue dropped 4% from the previous year to $11.21 billion, which was less than the $11.33 billion that was expected. Earnings per share also dropped, from $0.49 to $0.48, but the gross margin rose 60 basis points to 42.8%. Yahoo Finance reported that CEO Elliott Hill told workers that the company would have fewer jobs because of a plan to cut costs.
The sadness didn’t stop on Wall Street. Reuters reports that Adidas and Puma both dropped more than 1% in Frankfurt morning trade. This was because investors were doubting how strong global demand for sportswear would be in a time of high energy prices and tariff uncertainty. The Dow lost 3.6%, which was partly offset by gains in tech and banking stocks. This is one reason why the average rose less than half as much as the Nasdaq.
When it comes to the Dow, what technical levels matter?
After Thursday’s drop to the lowest level during the day since mid-June and Friday’s session low of 50,950.61, the 51,000 area has become a support area for the short term. There is resistance near the high of 51,382.88 on Friday and then at 52,000. The Dow is still about 6.5% below its 52-week high of 54,744.33 and about 13.6% above its 52-week low of 45,057.28. This puts it in the middle of its annual range after a month marked by rising oil prices and yields.
A Look at the World’s Markets
The Nasdaq Composite rose 1.19% to 27,190.86 after setting a new record high during the day, and the S&P 500 rose 0.73% to 7,722.72. Though the FTSE 100 and the DAX 40 both went up by 0.32%, the Hang Seng in Hong Kong went down by 2.6% and the Nikkei 225 in Japan went down by 1.08%.
What Next for the Dow Jones? What Should Investors Do?
Even though the Dow’s recovery is good news, it still needs lower yields and stable oil to get back to the 52,000 to 53,000 level it held in early September. The next tests are the Fed’s meeting on October 27 and 28, September inflation figures, and the start of third-quarter earnings from the big banks, which are very important to the average. Until then, consumer brands like Nike that could be hurt by taxes and less spending are likely to stay under close watch.
Questions People Ask Often
What was the last price of the Dow Jones on October 2, 2026?
It went up 250.40 points, or 0.49%, to end the day at 51,176.96 on the Dow Jones Industrial Average.
Why did the Nasdaq do better than the Dow on October 2, 2026?
The Dow isn’t as strong in the tech stocks that led the rise, and Nike dropped 3.6% after giving a bad outlook, which dragged down the price-weighted average.
How did the Dow do over the past week?
According to dpa-AFX, the Dow finished the week down 1.26%, even though it went up on Friday.