Stocks hit another record as House sends $4.5 trillion invoices over the weekend of July 4th, so stocks hit another record
The stock index appeared on new records heading into the long weekend after showing strong recruitment photos in June than Wall Street feared.
The S&P 500 rose 0.8%, setting its fourth high in five days. Dow The Jones Industrial Average added 344 points, or 0.8%; Nasdaq Composites increased by 1%.
Market profits are widespread, and companies that can get the biggest increase when workers are confident and confident have led the way. Expedia rose 3.2%, while Norwegian cruise lines steamed 2.9% higher.
Bank stocks were also strong Citigroup Increased by 2.3% jpmorgan chain Increased by 1.9%.
The response grew in the bond market following a report from the US government, saying employers added 147,000 jobs to their payroll last month than they cut. Another report shows fewer workers apply for unemployment assistance than expected last week, suggesting layoffs have been eased.
Unexpected acceleration of recruitment signals endures despite how worried the US job market is President Donald Trump’s tariffs And the $4.5 trillion budget bill he defended will have an impact on inflation.
“I have nothing to complain about here,” says Carl Weinberg, chief economist in high frequency economics. “We can’t find evidence of an early recession in these numbers.”
Investors jumped into the bond market to bet that better than expected data could put the Federal Reserve on interest rates instead of cutting them down as Trump wanted loudly.
Futures market traders believe the Fed is less than 5% likely to cut key interest rates at the next meeting later this month. It has dropped sharply from almost 24% chances seen just a day ago, according to data from CME Group.
Fed Chairman Jerome Powell argues that he wants to wait and see how Trump’s tariffs will affect the economy and inflation before making the next move. Lower fees boost the economy by making it easier to borrow money, but they also give more fuel to inflation. And that could be dangerous if Trump’s tariffs are trying to increase inflation.
Many of Trump’s strict proposed import taxes are currently suspended, but they’ll kick next week unless Trump does business with other countries and lowers them.
A recent survey by the Supply Management Institute says many U.S. companies in the services industry are concerned about the impact of tariffs, even if they return to growth last month after the May contraction.
“The increased costs and the likelihood of tariffs caused by tariffs have impacted the increased costs,” a company with agriculture, forestry, fishing and hunting industries said in a survey.
The 2010 Treasury yield rose to 4.34% from 4.30% on Wednesday. The two-year financial yield, which travels closer to expectations for the Fed, jumped even further. It rose from 3.78% to 3.88%.
On Wall Street, datadog It raised 14.9% after learning that the stock would continue widely and join the S&P 500 index before trading began on Wednesday. Many managers in the fund will either directly mimic or at least encourage investment in any equity that participates in the index, compared to the S&P 500.
DataDog will be replaced Juniper Networkcombined it Hewlett Packard Enterprise merger.
There were some Wall Street losers who could feel the pain by maintaining high interest rates.
Home builders want to lower their fees, for example, to make mortgages cheaper. Renal Sink 4.1% Dr. Houghton A 2.7% decrease.
The S&P 500 rose to 6,279.35 with 51.93 points. The Dow Jones industrial average was added from 344.11 to 44,828.53, while the NASDAQ composite rose from 207.97 to 20,601.10.
In overseas stock markets, indexes rose in most parts of Europe and Asia. Korean Kospi climbed 1.3%, while Hong Kong’s Hangsen fell 0.6% with two major moves.
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AP writers Teresa Cerojano and Matt Ott contributed.