Stock Market Today: Nasdaq, S&P 500 Inch Up After Two-Day Tech Slide, Dow Flat
Wall Street indexes climbed after a June payrolls report came in weaker than expected. This data reduced expectations for aggressive Federal Reserve rate hikes. Most sectors saw gains as investors viewed the labor market as balanced.
What changed
Market growth is now linked to softer employment data and inflation risks rather than just tech forecasts and oil prices.
Live updates
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US Stocks Rise as Weak Jobs Data Eases Rate Hike Fears
confidence 90%Wall Street indexes climbed after a June payrolls report came in weaker than expected. This data reduced expectations for aggressive Federal Reserve rate hikes. Most sectors saw gains as investors viewed the labor market as balanced.
What's confirmed:
- Wall Street indexes advanced following a weaker-than-expected June payrolls report.
- The June jobs data cooled expectations for aggressive Fed rate hikes.
Still unconfirmed:
- The Dow Jones index closed near its daily lows and lost 204 points.
- Meta Platforms stock moved ahead of earnings.
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US Indices Rebound After Tech Rout as Oil Prices Drop
confidence 90%The Dow, S&P 500, and Nasdaq rebounded following a sharp two-day decline in technology stocks. Market recovery coincided with oil prices falling to levels not seen since the start of the US-Iran war. Investors also reacted to strong forecasts from Micron and Qualcomm.
What's confirmed:
- The Dow, S&P 500, and Nasdaq rebounded following a tech rout.
- Oil prices dropped to levels not seen since the beginning of the US-Iran war.
- The S&P 500 and Nasdaq closed lower due to anxiety over Micron results before recovering after-hours.
- Samsung shares rose 9% as Asian tech stocks rebounded.
- The Kospi jumped over 3%.
Still unconfirmed:
- Alphabet is joining the Dow.
- A $1.3 trillion rout occurred due to AI jitters.
- Micron and Qualcomm forecasts ignited a $400 billion AI chip stock rally.