The US Labor Department's nonfarm payrolls report released on Friday showed that the US added 29,000 jobs in September, far below market expectations of 90,000; August's job gains were revised down from 162,000 to 133,000; July's job gains were revised from 21,000 to a loss of 10,000.

The September unemployment rate rose to 4.2%, higher than the expected 4.1% and August's 4.1%.

The report indicates a weakening US labor market, which could give the Federal Reserve room to hold interest rates steady while inflation remains elevated.

Wage growth also came in below expectations. Average hourly earnings rose 0.1% month-over-month in September, below the expected 0.3% and August's 0.3%; they rose 3% year-over-year, below the expected 3.2% and August's 3.1%.

Following the data release, financial markets reacted noticeably. Bitcoin held onto its earlier gains, rising more than 2% within 24 hours to just under $87,000. US stock index futures extended their gains, with the Nasdaq up 1.2%. The 10-year US Treasury yield fell 7 basis points to 5.17%, while the 2-year US Treasury yield dropped by a similar margin to 4.71%. Gold rose more than 1%, and the US dollar fell against major currencies.