Reported 6 months ago
US stocks, including S&P 500 and Nasdaq, held near record levels with Nvidia climbing as the market awaits a key jobs report, signaling hopes for interest rate cuts. The S&P 500 barely dipped below the flatline, the Dow Jones popped 0.2%, and the Nasdaq Composite dropped slightly. Despite Nvidia overtaking Apple as the second-biggest US company, its shares declined over 1%, pushing its market cap below $3 trillion. Investors view recent soft economic data as a potential reason for the Federal Reserve to consider interest rate cuts, with odds of a September cut now at 69%. Friday's upcoming jobs report is highly anticipated as it is expected to show a cooling labor market amid signs of a slowdown after a strong start in 2024.
Source: YAHOO