Stock futures jumped Friday, as yields retreated following a surprisingly weak jobs report that raised hopes the Federal Reserve will hold rates steady in October. S&P 500 futures were up 0.9%, while futures tied to the Dow Jones Industrial Average rose 516 points, or 1%. Nasdaq-100 futures advanced 1.3%. September’s nonfarm payrolls report showed the U.S. economy added 29,000 jobs last month, with unemployment rising to 4.2%. The Dow Jones consensus called for jobs growth of 84,000 and for the unemployment rate to hold steady at 4.1%. The report comes as traders reassess the next move for the Federal Reserve. Fed funds futures trading suggests an 86% likelihood the central bank will stand pat at this month’s meeting, up from a roughly 76% chance just the prior day, according to the CME FedWatch Tool. “Today’s data argues for patience, not panic,” Seema Shah, chief global strategist at Principal Asset Management, wrote on Friday. “The Fed needs to see a reacceleration in inflation, not just resilience in growth, to justify another hike this year.” Investors are coming off a modestly higher session Thursday to start off the month of October. However, all three indices are on pace for weekly losses, with the Dow off 1.7% in the period, amid a global bond market rout. Treasury yields fell early Friday, with the 10-year yield dropping more than 5 basis points to 5.176%. One basis point is equal to 0.01%, and yields and prices move in opposite directions. Asian stocks closed mixed on Friday. Japan’s Nikkei 225 lost 0.94% to 68,309.46, while the Topix closed 0.99% lower at 4,091. South Korea’s Kospi rose 0.46% to 7,003.74, while the small-cap Kosdaq slid 0.11% to 893.29. Australia’s S&P/ASX 200 added 0.79% to 8,682.1. Hong Kong’s Hang Seng index was 2.8% lower in its last hour of trade. Mainland China markets were closed for a holiday. Oil prices were lower on Friday, extending losses from earlier in the session, following reports of a potential move to release additional diesel and crude stocks to ease a global supply shortage. International benchmark Brent crude futures with December expiry traded down 2.5% at $99.78 per barrel, while U.S. West Texas Intermediate futures with November expiry fell 3.7% to $89.42. It comes shortly after Reuters reported that European Union member states were discussing a French proposal to release additional diesel reserves following pressure from the Trump administration. Spot gold extended gains Friday after a soft U.S. September jobs report, rising nearly 1%. Prices were still on course for a second ​consecutive weekly decline, as elevated Treasury yields weighed on bullion. Spot gold advanced to $4,217.49 an ounce. U.S. gold futures similarly gained 0.95% to $4,252.