Dow Jones gains 344 points while S&P 500, Nasdaq hit new highs on strong jobs data
2025-07-03 17:48:03
Main Idea
Wall Street remains optimistic despite potential delays in Federal Reserve interest rate cuts, with major indices reaching record levels and NVIDIA nearing Apple's market valuation.
Key Points
1. The Dow Jones closed higher by 344 points (0.77%), the S&P 500 rose 0.83%, and the Nasdaq Composite gained 1.02%, with both the S&P 500 and Nasdaq reaching record levels.
2. NVIDIA's stock rose 1.3%, approaching an all-time high and positioning it to potentially replace Apple as the most valuable company in the world.
3. The June jobs report showed a stronger-than-expected labor market, with non-farm payrolls increasing by 147,000 and the unemployment rate falling to 4.1%.
4. Investor optimism was fueled by NVIDIA's resilience to U.S. sanctions on China and the robust labor market data, which suggested a stable economic environment.
Description
A strong labor market means that Fed rate cuts are less likely, but economic optimism still swept Wall Street. Federal Reserve interest rate cuts might come later than expected, but Wall Street is still optimistic. On Thursday, June 3, the Dow Jones closed higher by 344 points, or 0.77%, while the S&P 500 rose 0.83% in a a shortened session ahead of Friday’s market close. The tech-heavy Nasdaq Composite gained 1.02%. Both the S&P 500 and the Nasdaq reached record levels, as investor optimism boo...
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