U.S. stocks rose in early trading on Friday, with the chance of the Fed suspending interest rate hikes rising to 86%

U.S. stocks were higher in early trading on Friday. (Reuters)

The U.S. employment report was unexpectedly weak, with the market betting on an 86% chance of the Federal Reserve suspending interest rate hikes. U.S. bond yields fell in response, and oil prices retreated. U.S. stocks opened higher on Friday morning, with technology stocks rising. Huida, AMD and TSMC ADRs all rose sharply. The Taiwan Index futures soared by more than 800 points in night trading, hitting 49,490 points.

The U.S. Bureau of Labor Statistics announced on the 2nd that 29,000 new non-farm jobs were added in September, far lower than the 90,000 economists expected, and the unemployment rate rose slightly to 4.2% from 4.1% in the previous month.

Employment growth has slowed sharply compared to expectations, raising the possibility that the Federal Reserve (Fed) will postpone raising interest rates in October. Data from the CME Group's FedWatch tool showed that the futures market's odds of keeping interest rates unchanged at this month's policy meeting of the Federal Reserve soared to 86% from about 76% the day before.

U.S. Treasury yields fell simultaneously on Friday, with the 10-year U.S. Treasury yield falling more than 5 basis points to 5.176%; the 2-year U.S. Treasury yield falling more than 3 basis points to 4.75%. Bond yields and prices move inversely.

On the other hand, oil prices fell sharply from their highs on Friday. It was previously reported that under pressure from the Trump administration, European countries are considering releasing strategic fuel reserves.

Many bullish news encouraged US stocks to rise in early trading on Friday. At 10:13 pm on the 2nd, Taipei time, the Dow Jones rose 257 points to 51,183 points; the Nasdaq rose 428 points to 27,299 points; the S&P 500 index rose 73 points to 7,740 points; Philadelphia Semiconductor rose 425 points to 13,254 points. At the same time, the Taiwan Index futures surged 820 points in overnight trading to 49,489 points.