This article first appeared on GuruFocus.

U.S. stocks jumped after Nvidia (NASDAQ:NVDA) reset market risk tone and a stronger-than-expected September jobs report.

The tech-heavy Nasdaq Composite climbed about 2%, while the S&P 500 and the Dow Jones Industrial Average advanced about 1.5% and 1%, respectively.

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Nvidia led gains today, trading more than 3% higher after adding $200 billion to its market value in a post-earnings rally, nearing the $200 level.

The September nonfarm payrolls added 119,000 jobs versus 50,000 expected, and the unemployment rate ticked to 4.4% from 4.3%.

Treasury yields eased, with the 10-year slipping about three basis points to 4.11% and the two-year down about three basis points to 3.56%.

Analysts said Nvidia's results and the jobs print may lead the Federal Reserve to a "wait and see" stance in December, tempering near-term rate-cut bets.