Stocks are rising due to a stronger-than-anticipated jobs report for June, with the economy adding 147,000 payrolls. This figure exceeded forecasts that anticipated a slowdown in hiring. Revisions of past data have been upward, and the unemployment rate decreased from 4.2% to 4.1%. The Nasdaq Composite is nearing a record high, supported by strong performance from Big Tech. Other indices include the Dow Jones Industrial Average and S&P 500, both showing gains. Datadog has also risen significantly after being added to the S&P 500.
The markets are celebrating a stronger-than-expected jobs report for June, sending all three of the major stock market indices higher. The economy added 147,000 payrolls last month, far outpacing economist forecasts calling for a slowdown in hiring.
Most sectors of the economy are seeing green today, led by telecom, consumer discretionary and technology. Big Tech is driving much of the gains in the Nasdaq Composite today, including a 2% rise in Meta Technologies.
Datadog, which is behind a cloud-based security platform, is advancing 9.1% today after being chosen as the latest addition to the S&P 500, replacing the outgoing Juniper Networks.
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