1.
Wall Street Got Terrible Jobs News. Then Stocks Exploded
The U.S. added just 29,000 jobs in September, a stark drop from the 90,000 expected, and unemployment ticked up to 4.2%. Normally, that would rattle the markets, but stocks rallied instead. The Nasdaq climbed 1.19% and the S&P 500 rose 0.73%. Why? Investors are seeing this weak jobs report as a signal that the Federal Reserve might hold off on further interest rate hikes.
The Fed raised rates by 0.25 percentage points last month, but the disappointing job numbers have shifted the odds of another hike in October down to about 23%. This means that bad economic news might actually be good for stocks, as it could ease pressure on rates.
Digging deeper, July's job numbers were revised down from 21,000 to -10,000, and August's from 162,000 to 133,000. Wage growth for September slowed to 3.0% year-over-year, and while health care added 17,000 jobs, most other sectors remained flat. These revisions suggest a broader slowdown, but it’s not a total collapse—monthly payroll gains have averaged 45,000 over the past year.
So, we’re in a bit of a paradox: a softer economy could benefit stocks if it helps cool inflation and keeps the Fed from tightening further. For now, the market is celebrating this lower pressure on rates. The next big question is how inflation will play into the Fed's decisions moving forward.
For listeners who want low-fee crypto exposure, our markets partner Kraken supports Bitcoin — link in show notes.
2.
American Airlines’ pilots union says Spirit’s data sale to Google could undermine aviation safety
- The union representing American Airlines pilots objected this week to Spirit's data sale to Google. - The union cited privacy and safety concerns and joined prior objections to the sale. - Google has said data included in the $10 million data sale would be scrubbed of identifying info. The union representing American Airlines pilots is joining opposition to Spirit Airlines' plan to sell its old data to Google. After the budget airline shut down earlier this year, Google succeeded in bidding $10 million for its data, which the company said could be used to improve its products and AI models.
3.
Keurig finally has compostable coffee pods
The guilt that comes from being environmentally-conscious, but needing your difficult-to-recycle coffee pods in the morning, can now subside. Keurig said it has created compostable pods that can be disposed of alongside your coffee grounds. - The plastic-free pods, called AltaRounds, are actually pucks of coffee grounds wrapped in a seaweed-based coating. - Because there’s always a catch, that puck comes in a plastic wrapper, but Keurig says that outer wrapper will eventually be replaced by paper, per CNET.
4.
America posts a surprise job market slowdown
Relatively few Americans had to come up with a fun fact to share with their new coworkers last month. The US added an underwhelming 29,000 jobs in September, the government said yesterday—a figure below the 84,000 economists surveyed by Dow Jones expected. Government data released yesterday shows that last month: - Even healthcare, typically the all-star job-creating industry, disappointed, gaining just 17,000 workers, compared with the 33,000 jobs it added in an average month over the past year. - Construction and manufacturing added a modest 11,000 and 9,000 jobs, respectively.
5.
America posts a surprise job market slowdown
Relatively few Americans had to come up with a fun fact to share with their new coworkers last month. The US added an underwhelming 29,000 jobs in September, the government said yesterday—a figure below the 84,000 economists surveyed by Dow Jones expected. Government data released yesterday shows that last month: - Even healthcare, typically the all-star job-creating industry, disappointed, gaining just 17,000 workers, compared with the 33,000 jobs it added in an average month over the past year. - Construction and manufacturing added a modest 11,000 and 9,000 jobs, respectively.
6.
週末輕聽＃1｜Meta Muse：它究竟替誰工作？
7.
週末輕聽＃2｜6％高股息，還等於高安全嗎？
Wing's Investment World Podcast週末輕聽＃2｜6％高股息，還等於高安全嗎？4211×0:00Current time: 0:00 / Total time: -5:49-5:49Audio playback is not supported on your browser. Please upgrade.週末輕聽＃2｜6％高股息，還等於高安全嗎？Wing's Investment WorldOct 03, 2026421ShareTranscript週中拆局｜大家都怕高息拖垮 AI，指數還在高位，為何熟悉的收息股先跌了？Wing's Investment World·Sep 30Read full storyDiscussion about this episodeCommentsRestacksWing's Investment World Podcast專注 AI 基建、半導體與科技股，從產業技術、供應鏈、財報與市場趨勢出發，化繁為簡，看懂投資。專注 AI 基建、半導體與科技股，從產業技術、供應鏈、財報與市場趨勢出發，化繁為簡，看懂投資。SubscribeListen onSubstack AppRSS FeedAppears in episodeWing's Investment WorldRecent Episodes週末輕聽＃1｜Meta…
8.
Post Office vs FD vs Arbitrage Fund
Whether it is the EMI on your home loan or the interest on your fixed deposit, most interest rates in the country trace back to one number: the repo rate. It is one of the biggest forces influencing interest rates across the country, and the RBI sets this rate based on the state of the economy. When it moves, everything else follows. When the RBI raises it, loans get expensive and you earn more on your fixed deposits. When the repo rate is cut, both loan rates and fixed deposit rates fall. In the last year and a half, the repo rate has been falling. It was at 6.5% at the start of 2025.
9.
Trading the Record El Niño
The moment every El Niño thread on X had been building towards since June. The Godzilla event. The 1997 analogue. The whole bloody thing. In the week of 16 September, NOAA’s weekly reading for the patch of ocean that defines El Niño came in at a whopping 3.0°C above normal, matching the peak of the 2015 Super El Niño monster. A week later it hit 3.1°C - the HIGHEST weekly reading in NOAA’s records going back to 1981. Global temperatures are rising whether you believe global warming is a conspiracy theory or not, folks. NOAA puts the odds of a very strong El Niño above 90% through January.
10.
Mortgage Rates and Housing
I’ll probably be revisiting this monthly, at least for a little while. I realize my analysis here is getting a bit precious - building on a number of heterodoxic inferences. I can’t much help that. It’s what I do. On housing, I have a decade, now, of background building the heterodox case. I don’t necessarily have that background on the business cycle. I tend to follow market monetarists like Scott Sumner, but they won’t agree with all the directions I have taken it.