{"id":141260,"title":"What happened overnight – Friday 2nd October 2026","publisher":"Share Talk","author":"sharetalk","published":"2026-10-02T07:08:14+00:00","modified":"2026-10-02T07:08:14+00:00","canonical_url":"https://www.share-talk.com/what-happened-overnight-friday-2nd-october-2026/","markdown_url":"https://www.share-talk.com/what-happened-overnight-friday-2nd-october-2026.md","json_url":"https://www.share-talk.com/what-happened-overnight-friday-2nd-october-2026.json","category":"Blogs","categories":["Blogs","Technology","Technology, Media & Telecoms"],"tags":["Asia","Bangkok","Denmark","Endeavour Mining","Fed","Federal Reserve","Finland","FRANCE","FTSE 100","GERMANY","Glencore","Greenland plan","Hong kong","Japan","London","Manila","mining stocks","Mumbai","Nasdaq Composite","NATO alliance","Netherlands","Nikkei 225","Norway","S&P 500","shanghai","Singapore","Sweden","Sydney","Taiwan","UK","United States","Wall Street","Wellington"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/08/182abb14-cee9-4e0b-8857-38a6f5cea2af.png?fit=1726%2C911&ssl=1","format":"news","language":"en-GB","content":"The previous session was dominated by surging government borrowing costs, which triggered particularly heavy losses across **banks, housebuilders and other rate-sensitive shares**.\n\nSome pressure eased overnight as US Treasury yields retreated from their multi-decade highs.\n\nThe benchmark **US 10-year Treasury yield was holding near 5.25%**, after reaching approximately 5.34% on Thursday, its highest level since 2002.\n\nWall Street also stabilised, with the **S&P 500 gaining 0.2%**, while the Dow Jones Industrial Average and Nasdaq Composite finished fractionally higher.\n\nAsian markets remained mixed ahead of the US employment report. **Japan’s Nikkei fell 0.9% and Hong Kong’s Hang Seng dropped 2.7%**, while Australia’s ASX 200 gained 0.4% and South Korea’s Kospi advanced 0.2%.\n\nMainland Chinese markets remained closed for a holiday.\n\nCommodity markets were relatively stable. **Brent crude eased 0.1% to US$102.19 a barrel**, while **West Texas Intermediate** fell 0.3% to US$92.61.\n\n**Gold** gained **0.4% to US$4,218.65 an ounce**, while **copper** advanced 0.7%.\n\n**Bitcoin** also strengthened, rising **2.2% to around US$86,041**.\n\nThe main event for global markets is the **US non-farm payrolls report**, where September employment growth is expected to slow to approximately **90,000 jobs**, from 162,000 in August, while unemployment is forecast to remain at 4.1%.\n\nFor investors, the significance of the jobs report extends well beyond the labour market. A stronger-than-expected number could revive expectations for tighter Federal Reserve policy and send Treasury yields back towards Thursday’s highs, potentially reversing the early improvement in equity sentiment.\n\nA softer report could instead help **bond yields retreat further and provide additional support to rate-sensitive equities**.\n\nThe expected FTSE rebound therefore represents only a partial recovery from Thursday’s losses. The more important test is whether the recent surge in global borrowing costs has peaked or resumes following the US employment data."}