Wall Street Rallies On Rate Cut Expectations; Nasdaq & S&P 500 Hit New Highs

Wall Street Rallies On Rate Cut Expectations; Nasdaq & S&P 500 Hit New Highs
The stock market indices closed higher on July 5, with the Nasdaq and benchmark S&P 500 reaching record highs. This comes after data showing a slowdown in the US labour market, which has boosted expectations that the Federal Reserve may start cutting interest rates as early as September. Labour Department data indicated the US continued to add jobs in June but at a slower pace, with the unemployment rate rising to its highest level in over 2-1/2 years, while wage gains slowed. The Dow added nearly two-tenths of a per cent, the S&P gained more than half a per cent, and the Nasdaq climbed nine-tenths of a per cent. The rally was driven by major tech stocks such as Microsoft, which rose nearly 1.5%, and Meta Platforms, gaining nearly 6%.
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[@juegomaestro11]

No one is talking about how the unemployment rate is continuously rising and it is now 4.1%. The answer the feds have is lowering interest rates to prevent us hitting 5%. But we are still over 3% inflation, far higher than the targeted 1-2% range. Lowering interest rates will only increase inflation. We are stagflated.

[@boytang1631]

As a Chinese, I am very curious. When the non-farm payrolls data is released every month, the data of the previous month is always revised. Now that the non-farm payrolls data for June has been released, will it be revised again next month? What is the significance of this fake data?

[@bobChristianson]

nobody is talking about the 34 Trillion Dollars debt

[@tiz6549]

That's because no one cares about it! This is a investor's game..