Employers added 147,000 jobs in June, surpassing Wall Street expectations, leading to record stock market gains. The S&P 500 rose 0.8%, achieving an all-time high again. The Dow Jones increased by 344 points, and Nasdaq rose by 1%. Stocks of companies benefitting from consumer confidence led gains and bank stocks surged. Bond market reactions indicated expectations for stable interest rates, with futures traders reducing the chance of a Federal Reserve rate cut. Economists pointed out no evidence of a recession in the job market data.
"The S&P 500 rose 0.8%, setting an all-time high for the fourth time in five days. The Dow Jones Industrial Average added 344 points, or 0.8%, and the Nasdaq composite gained 1%."
"The unexpected acceleration in hiring signals the U.S. job market is holding up despite worries about how President Donald Trump's tariffs and the $4.5 trillion budget bill he championed would affect inflation."
Collection
[
|
...
]