US Stocks Rally on Jobs Report, Nvidia Hits All-Time High

US stocks finished higher on Friday after September's jobs report showed U.S. employers added 29,000 jobs and unemployment rose to 4.2%. The figures were below the Dow Jones consensus for 84,000 jobs and 4.1% unemployment, strengthening expectations that the Federal Reserve could hold rates steady at its late-October meeting.

The Dow rose 0.5%, while the S&P 500 gained 0.7% and the Nasdaq climbed 1.2%, reaching an intraday all-time high before retreating slightly. However, for the week, the Dow fell 1.26% and the S&P 500 declined 0.3%. The Nasdaq gained 0.45%, supported by demand for artificial-intelligence-related shares.

Nvidia reached an all-time high on Friday for the first time since May, while CrowdStrike, Palo Alto Networks, and AMD also rose to all-time highs. Nvidia authorized an additional $150 billion in share repurchases, lifting its remaining authorization to $235 billion. Its shares finished the week up 3.95%.