Wall Street advanced after payroll growth missed forecasts and October rate-hike bets faded, yet long-term U.S. yields reversed an initial decline and global bonds stayed under pressure.
The Dow lost 373 points as oil and yields rose, but memory-chip stocks and Elon Musk’s two listed companies moved against the broader market.
The Nasdaq gained 1.6% as two AI-linked companies surged, but most S&P 500 members fell and Treasury yields edged higher.
A surprise decline in retail spending reduced expectations of a September rate increase but sharpened the contradiction between supportive borrowing costs and the risk that high inflation is meeting slower growth.
