Stock market today: Dow, S&P 500, Nasdaq soar after Nvidia's earnings beat, jobs report blows past expectations

Group 1: Market Overview - US stocks experienced a significant surge, driven by strong Nvidia earnings and improved rate-cut expectations following the September jobs report [1][2] - The Nasdaq Composite led the gains, rising approximately 2.5%, while the S&P 500 increased by over 1.8%, and the Dow Jones Industrial Average rose by 1.3%, or over 500 points [2] Group 2: Nvidia Performance - Nvidia's stock rose nearly 5% in early trading after the company reported earnings that exceeded expectations and provided a stronger-than-expected revenue outlook for Q4 [3] - CEO Jensen Huang highlighted that demand for Blackwell processors is "off the charts," alleviating concerns about a potential long-term slowdown in AI-related stocks [3] Group 3: Employment Data and Economic Outlook - The September nonfarm payrolls report indicated that the US economy added 119,000 jobs, significantly surpassing the expected gain of 51,000 [4] - The unemployment rate increased to 4.4%, up from 4.3% in August, contrary to expectations that it would remain unchanged [4] - Following the jobs report, options traders adjusted their expectations, pricing in approximately 42% odds of a rate cut at the Federal Reserve's next meeting in December, up from 28% earlier that morning [5] Group 4: Federal Reserve Insights - Minutes from the Fed's October meeting revealed a divide among policymakers regarding whether a cooling labor market or persistent inflation poses a greater risk to the economy [7] - This uncertainty contributed to speculation about the Fed's decision in December, with some officials indicating no further rate cuts are anticipated [7] Group 5: Walmart Earnings - Walmart raised its full-year forecasts after reporting better-than-expected profit and sales in Q3, reflecting consumer strength ahead of the holiday season [8]