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

Group 1: Market Performance - US stocks experienced a significant surge, with the Nasdaq Composite rising approximately 2.5%, the S&P 500 increasing over 1.8%, and the Dow Jones Industrial Average up 1.3% or over 500 points [1][2] - The surge was primarily driven by Nvidia's strong earnings report, which helped restore confidence in the AI sector [1][3] Group 2: Nvidia's Earnings - Nvidia's stock rose nearly 5% in early trading following an earnings beat and a stronger-than-expected revenue outlook for Q4 [3] - CEO Jensen Huang highlighted that demand for the company's 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 exceeding the expected gain of 51,000 [4] - The unemployment rate increased to 4.4%, up from 4.3% in August, contrary to expectations of it remaining unchanged [4] - Following the jobs report, options traders adjusted their expectations, pricing in around 42% odds of a rate cut at the Fed'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 the risks posed by a cooling labor market versus persistent inflation [7] - This uncertainty contributed to speculation about the Fed's decision on interest rates in December, with some officials indicating no further rate cuts are anticipated [7] Group 5: Walmart's Performance - Walmart raised its full-year forecasts after reporting better-than-expected profit and sales in Q3, leading to a jump in its shares [8] - The retailer's performance is viewed as an indicator of consumer strength heading into the holiday season [8]