NewsMeter

Nasdaq hits record high as Fed hike odds drop to 20 percent

10/6/2026

The Nasdaq Composite closed at a record high of 27,477.31 on Monday, rising 1.1 percent as investors scaled back expectations for a Federal Reserve interest-rate hike.

stock futures remained little changed in early Tuesday trading, with the S&P 500 Futures up 0.1 percent to 7,837.25 points and Nasdaq 100 Futures up 0.2 percent to 31,393.75 points by 21:10 ET.

The rally was driven by a shift in market pricing following Friday's employment report, which indicated that U.S. job growth slowed more than expected in September.

According to CME FedWatch data, traders now assign roughly a 20 percent probability to a rate increase at the Fed's October meeting, a sharp decline from approximately 70 percent just one week earlier.