Wall Street sets more records, but bond yields drop following discouraging data on the job market

Market Overview - Stocks reached new record highs, with the S&P 500 climbing 0.3%, the Dow Jones Industrial Average increasing by 43 points (0.1%), and the Nasdaq composite rising 0.4% [1] - The bond market saw a decline in Treasury yields following a report indicating weaker-than-expected hiring across the country [2] Employment Data - The ADP Research survey reported that employers outside the government cut 32,000 more jobs than they added, with significant losses in the Midwest [2] - The August employment numbers were revised down from a gain of 54,000 jobs to a loss of 3,000 jobs [2] Economic Signals - The upcoming Labor Department report is likely to be delayed due to the government shutdown, which adds uncertainty to the job market outlook [4] - Market participants are concerned that the job market needs to slow enough to encourage the Federal Reserve to cut interest rates without triggering a recession [4][5] Company Performance - Nike's stock rose by 6.4% after exceeding analysts' profit expectations, driven by strong growth in apparel sales in North America [6]