The three major U.S. stock indices closed higher on Wednesday, with tech stocks leading the way.

The 10-year U.S. Treasury bond yield pulled back from a 16-year high, providing a boost to the stock market.  

WTI crude oil futures prices saw a significant drop. 

In September, the U.S. added 89,000 jobs, falling far short of expectations (153,000) and the previous figure (177,000). This marked the smallest increase since early 2021 and indicated a further slowdown in the labor market. It also cooled expectations of the Federal Reserve raising interest rates again this year.

Currently, all eyes are on the release of the U.S. September non-farm payroll data on Friday, with an expected addition of 170,000 jobs. 

On Wednesday, U.S. Treasury yields fell, lifting the stock market. The 10-year U.S. Treasury yield decreased by 7.5 basis points, reaching 4.727%.  

On Tuesday, both the 10-year and 30-year U.S. Treasury bond yields reached new highs not seen since August 2007. 

U.S. Stocks 

Fundamental Analysis: 

Large technology stocks posted gains, with Tesla surging nearly 6% and its market value crossing the $800 billion threshold. 

AMD, ARM, STMicroelectronics, and ASML all gained over 3%. 

Google rose over 2%, while Nvidia, Microsoft, Amazon, and Meta gained over 1%. Netflix and Apple posted slight gains. 

Energy stocks performed weakly, with Caelon Petroleum dropping over 7%, and Marathon Petroleum, Schlumberger, Apache Corporation, and Murphy Oil falling over 4%. ExxonMobil, ConocoPhillips, and Western Petroleum fell over 3%, while Chevron dropped over 2%. 

Chinese tech stocks had mixed movements, with the Nasdaq Golden Dragon China Index falling by 0.27%.  

XPeng Motors gained over 3%, NIO rose over 2%, and New Oriental and XPeng Motors gained over 1%.  

Alibaba, iQiyi, JD.com, and others experienced slight declines, while Bilibili and Vipshop Holdings dropped over 1%. 

Technical Analysis:   

(S&P 500 Index, 1-day chart) 

Market Trends: 

• Dow Jones Industrial Average gained 127.17 points, or 0.39%, closing at 33,129.55 points. 
• Nasdaq Composite Index (Nasdaq) rose 176.54 points, or 1.35%, closing at 13,236.01 points. 
• S&P 500 Index gained 34.30 points, or 0.81%, closing at 4,263.75 points. 

Hong Kong Stocks 

All three major indices saw gains, with core technology stocks rising collectively. 

Netease gained over 2%, while JD Group, Baidu Group, and Tencent Holdings rose nearly 2%. 

Auto stocks led in terms of gains, with XPeng Motors rising nearly 6% and NIO gaining almost 4%. 

Real estate and property management stocks also saw gains, with China Evergrande Group rising nearly 10% and Evergrande Services gaining over 4%. 

The entertainment and media industry stocks saw active gains, with Alibaba Pictures rising over 5%. 

Top performers included XPeng Motors, which gained nearly 6%.  

Several new energy vehicle companies reported strong sales figures for September, with BYD achieving record sales of over 280,000 vehicles, marking a 42.8% year-on-year growth.  

GAC Aion surpassed the 50,000 sales milestone, and XPeng delivered over 36,000 vehicles in September, a 212% year-on-year increase, setting a new monthly record.  

Other new entrants in the electric vehicle market, such as Deep Blue, Leapmotor, and NIO, also delivered over 10,000 vehicles each. 

Technical Analysis: 

(Hang Seng Index, 1-day chart) 

Market Trends: 

• Hang Seng Index (HSI) rose 0.76%, closing at 17,326.19 points. 
• Hang Seng Tech Index (HSTECH) rose 1.19%, closing at 3,797.22 points. 
• Hang Seng China Enterprises Index (HSCEI) rose 0.87%, closing at 5,933.61 points. 

FTSE China A50 Index 

Fundamental Analysis: 

The A-share market in China remained closed for the entire day in light of the China National Day holiday. 

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