U.S. stocks opened higher with the Dow climbing 700 points, only to close lower after a delayed September jobs report hinted at no rate cut. The Dow closed down 386.51 points, Nasdaq dropped 486.181 points, S&P 500 down 103.40 points, and the 10-year yield slipped to 4.098%.

The delayed September jobs report showed 119,000 jobs added, but the unemployment rate inched up. Analysts believe the Fed won’t make a move until early 2026. The CME Fedwatch tool indicates a 40% chance for a rate cut in December.

Analysts refute the idea of an AI bubble, citing strong corporate earnings, particularly by Nvidia. Nvidia’s earnings were seen as a validation of their strong position in the market. Overall, corporate earnings for the quarter exceeded expectations.

Market uncertainty, particularly around the Fed’s interest rate path and other economic factors, has led to recent market volatility. Investors are flying blind on the economy’s health due to incomplete data. The market’s outlook remains cloudy.

As the market faces uncertainties, the government decided not to release an October jobs report due to no data being collected. Analysts are unsure if the market will rally again soon but historically, there is a “Santa Claus rally” at the end of the year.

Despite recent market pullbacks, the historical trend of a year-end rally, known as the “Santa Claus rally,” may offer hope for a market rebound. The Dow has historically risen during this period, providing potential for a positive return.

Read more at Yahoo Finance: Why were stocks down today? What to know as Dow gives up 700-point gain