Signs of a global energy crisis helped push Brent crude prices to a three-year high above $80 a barrel, on the prospect of tight supply.
The Fed's emergency asset purchases have lifted markets and supported the recovery since early 2020. They could start shrinking later in the fall.
In focus is whether the worse-than-expected jobs report will affect the timing of the Federal Reserve's tapering of its bond-buying program.
"This reinforces our belief that in the event of a well-deserved pullback, it would be an opportunity to buy at cheaper prices," a strategist said.
Naeem Aslam, chief market analyst at AvaTrade, said Fed tightening and China releasing stockpiles could weigh on the price of lumber.
"I'm really worried about the risk of a Fed policy mistake," economist Mohamed El-Erian told CNBC.
Jerome Powell's comments signal that, despite rising Treasury yields, the Federal Reserve won't lift rates at the first sign of stronger inflation.
What if Europe, Japan and the United States all try to tighten monetary policy at the same time?
Glenn Stevens should be pleased.
Maybe Greenspan is right.
Swings and roundabouts.
Here comes the taper.