Reported about 1 year ago
US stocks reached all-time highs on Friday as investors anticipated a possible rate cut from the Federal Reserve after the June jobs report showed job gains exceeding expectations. The S&P 500, Nasdaq, and Dow Jones all rose, with tech giants like Apple, Amazon, Alphabet, and Meta leading the gains. The report revealed 206,000 new jobs in June, but the unemployment rate rose slightly to 4.1%, the highest since November 2021, indicating a cooling job market. The data boosted speculation of a September rate cut, with traders pricing in a 75% chance of a cut, leading to a continued decline in the 10-year Treasury yield. Investors are now assessing whether the slowdown in job growth is part of the labor market's recovery post-pandemic or a sign of a broader economic slowdown.
Source: YAHOO