ASX 200 rebounds as tech stocks rally and U.S. jobs data weakens

Australian markets saw a rebound on Friday, with the S&P/ASX 200 rising 0.58% to 8,664.6 following a significant sell-off the previous day. The recovery was driven largely by a rally in technology stocks and energy producers, helping the index end a volatile week roughly flat.

In individual stock news, IT services provider Data#3 Ltd. surged nearly 14% after forecasting a first-half pre-tax profit jump of more than 40%, significantly exceeding analyst expectations. Conversely, tungsten producer EQ Resources Ltd. fell over 11%, continuing a period of volatility for critical minerals stocks.

In the United States, weaker-than-expected jobs data from the Labor Department—showing only 29,000 non-farm payroll additions in September against an expected 85,000—triggered a slump in Treasury yields. This economic data has reduced market expectations for further interest rate hikes by the Federal Reserve, contributing to a positive outlook for U.S. stock futures.