Dow Jumps to Record Closing High After Soft Jobs Report | Honolulu Star-Advertiser
A weaker-than-expected June payrolls report eased rate-hike fears, while a 5.4% semiconductor slump dragged the Nasdaq lower, analysts said.
- On Thursday, July 2, the Dow Jones Industrial Average reached a record closing high as a softer-than-expected jobs report eased interest rate hike concerns, while the Nasdaq Composite declined amid a sharp semiconductor sell-off.
- June payrolls data showed the economy added 57,000 jobs, far below the 110,000 estimate, prompting investors to scale back Federal Reserve rate hike expectations significantly. CME FedWatch data reflected this shift in sentiment.
- Semiconductor stocks dragged down the Nasdaq, with the sector index falling 5.4% on Thursday. Nvidia dropped 1.4% while SanDisk tumbled 14.1% as investors took profits following strong gains this year.
- The Dow recorded its fourth consecutive week of gains, marking its longest winning streak since October 2024. U.S. financial markets close on Friday for Independence Day, capping a strong trading period.
- Adam Sarhan, chief executive at 50 Park Investments in New York, cautioned that "doesn't mean the fear of inflation is over." Meanwhile, the Treasury Department launches tax-advantaged Trump Accounts for children on July 4.
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Dow Jones Surges to Record High as Weak Jobs Report Boosts Hopes for Fed Rate Pause
The U.S. stock market ended Thursday's trading session on a mixed note, with the Dow Jones Industrial Average climbing more than 1% to a record closing high after a weaker-than-expected employment report reduced concerns that the Federal Reserve would continue raising interest rates in the near future.
US Stock Market: Soft US jobs data eases Fed rate fears, lifts market sentiment
A recent U.S. jobs report, showing slower-than-expected growth and downward revisions, has eased investor fears of persistent inflation and a hawkish Federal Reserve. This cooling labor market data offers relief to equity markets, especially tech stocks, as it reduces expectations for an imminent interest rate hike. Investors now anticipate a more stable economic outlook, potentially supporting higher stock valuations.
Dow jumps to record closing high after soft jobs report | Honolulu Star-Advertiser
The Dow rose more than 1% to a record closing high today ahead of the long holiday weekend as a softer-than-expected U.S. jobs report eased worries about interest rate hikes, while another sharp drop in chipmaker stocks weighed on the Nasdaq.
Dow jumps to record closing after soft jobs data; Nasdaq down with chip shares
NEW YORK — The Dow rose more than 1 percent to a record closing high July 2 ahead of the long holiday weekend as a softer-than-expected U.S. jobs report eased worries about interest rate hikes, while another sharp drop in chipmaker stocks weighed on the Nasdaq.
Dow jumps, posts record closing high after soft US jobs data
The Dow Jones Industrial Average posted a record closing high Thursday and a fourth straight week of gains ahead of the long holiday weekend, as a softer-than-expected U.S. jobs report eased worries about interest rate hikes.
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