The U.S. economy added only 29,000 non-farm payrolls in September, far below the 90,000 economists had expected, while the unemployment rate ticked up to 4.2% and average hourly earnings rose just 0.11%. Prior months were revised sharply lower, with July cut by 31,000 to minus 10,000 and August reduced by 29,000 to 133,000, a combined downward revision of almost 60,000 jobs. Allianz chief economic adviser Mohamed El-Erian said the report was weak across the board on labor demand, though he called a rise in the labor force participation rate to 61.8% encouraging on the supply side, and said the data will keep the Federal Reserve on hold in October. Within the report, goods-producing and private service-providing sectors showed strength, with construction adding 11,000 jobs and healthcare 17,000, while government shed 17,000 positions and manufacturing added 9,000, a slowdown from 15,000 the prior month. Separately, Nike posted a disappointing outlook for fiscal 2027, expecting a high single-digit revenue decline this year, worse than the 2.5% the Street expected, and said restructuring would save about $2.5 billion, while Tesla reported roughly 486,500 third-quarter deliveries, topping estimates of 463,000.
Nike IncNike guided to a high single-digit fiscal 2027 revenue decline, far worse than the 2.5% Street expected.
Tesla IncTesla reported ~486,500 Q3 deliveries, topping estimates of 463,000.
Automatic Data Processing Inc
Allianz SE VNA O.N.
Allianz SE