11AM Hour: September Jobs Below Expectations, Mortgage Rates on the Rise & Domyn CEO on AI 10/2/26
Summary
Squawk on the Street analyzes a weaker-than-expected September jobs report, with former Fed President Gary Stern arguing it supports an October rate hike despite market expectations for a pause. Technical strategist Jeff DeGraff warns that credit deterioration and low market breadth signal a later-stage bull market, while Morgan Stanley’s Jim Egan discusses how surging mortgage rates are stifling housing affordability. The episode also covers Nike’s stock drop following a weak outlook, the G7’s decision to release diesel stockpiles, and a potential Anthropic IPO, featuring insights from CEO…
Topics discussed
Sponsors and episode preview
Jobs report analysis and Fed rate outlook
Market technicals and credit market concerns
Oil prices, treasury yields, and labor divergence
October market seasonality and labor market gaps
Sponsor breaks and transition to Nike
Nike earnings: profit beat but revenue miss
Nike inventory, dividend, and analyst reactions
Mortgage rates, housing affordability, and ARMs
News briefs: Mistrial and SpaceX record
G7 diesel stockpiles and oil production trends
Gary Stern on jobs data and bond market signals
Anthropic IPO risks and political tensions
Doman CEO on sovereign AI and European strategy
Closing remarks and final sponsor ads
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