Stocks rose Friday and bond yields dropped as U.S. monthly jobs report for September was weaker than expected, easing expectations for a potential rate hike by the Federal Reserve.

Nvidia advanced 2.8%. Shares were on pace to close at a record high, according to Dow Jones Market Data. The company recently added a historic $150 billion to its share repurchase program.

Tesla rose 4.2% after the electric-vehicle maker delivered 486,532 cars in its fiscal third quarter. The figure, which is up 1% from the second quarter and down 2% year over year, smashed Wall Street's estimates of 450,000 to 460,000 deliveries.

Rivian Automotive fell 3.3%. The EV manufacturer delivered 19,248 vehicles in the fiscal third quarter, topping consensus estimates of 18,001.

ON Semiconductor rose 5.8% after the chip supplier agreed to buy Synaptics for $5.7 billion in cash, compared with $7 billion in stock previously. Synaptics shares rallied 15% ahead.

Nike slumped 6.1%. The retailer missed Wall Street's first-quarter revenue target and issued downbeat fiscal-year guidance as its turnaround flounders.

Cryptocurrency stocks got a boost as Bitcoin traded back above $86,000. Strategy rose 4.2%, Coinbase Global advanced 1.8%, and Robinhood Markets added 3.8%. The move came after Fed Vice Chairman Philip Jefferson said Thursday that the central bank needs more time to gauge economic health before making any further rate adjustments.

Hewlett Packard Enterprise advanced 5.9% and was the top gainer in the S&P 500. The company said Wednesday it projects solid revenue growth for its networking business segment because of AI demand.

Seagate Technology tumbled 13% and was the worst performer in the S&P 500. A recent report from Nikkei revealed that Toshiba will double its production capacity for hard disk drives used in data centers and invest $380 million to expand facilities in the Philippines. Toshiba, along with Seagate Technology and Western Digital, are key competitors in the hard disk drive market. Shares of Western Digital dropped 9.8%.

Moderna fell 0.3%. Stock exchange Nasdaq said the biotech and pharma company would replace Warner Bros. Discovery in the Nasdaq 100 before the market opens on Oct. 9. Warner Bros. is set to complete its merger with Paramount Skydance next week.

Twilio declined 1.5%. The cloud communications company technology will join the S&P 500 effective Oct. 6, replacing Warner Bros. Discovery.

Vylor dropped 1.7%. The agricultural technology company joined the S&P 500 Thursday to replace Corteva, which spun off Vylor to separate its seed and advanced genetics business.